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From Home Furnishing Business

Citron Targets Wayfair, Stocks Fall

Shares of e-commerce giant Wayfair Inc. (NYSE:W) are heading lower after a report released on Monday by Citron Research claimed that Wayfair is overvalued.

According to MarketWatch, shares of Wayfair dropped 6.5% in afternoon trading yesterday, toward a 4 1/2 month low.

Citron said it has long believed that Wayfair's business model was "a piece of unsustainable [shi*t]," given increasing costs, intensified competition, partnership woes and a potential target of President Donald Trump. 

Although Trump has recently attacked Amazon, Citron said the real tax-dodging culprit in e-commerce is Wayfair.

To read the story click here.

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