Wayfair Would Have Had to Pull Its IPO in 2019


Recent Earnings Debacle Have Citron Lowering PT to $45

In a new market environment where investors have little appetite for structurally money-losing businesses without a clear path to profitability, Citron believes that Wayfair would not be able to complete an IPO in 2019.

After eight years operating as a public company, Wayfair has never been further from profitability as its most recent quarterly earnings release reflects the Company’s largest quarterly loss while revenue growth is decelerating.

*In business for 17 years and $W loses $654 million in the first 3 quarters of 2019.  (How is this an $8 billion company?)

One quarter after the resignation of its COO and CTO, Wayfair reported another bad quarter, this time blaming it on tariffs.  Why not?… if things go bad just blame it on Trump.

Read the full Report here.