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Wayfair - Shaking Off Citron Call

Wayfair (W) is down about $70 from the all-time highs back in March to $105. The recent repeated negative calls by Citron Research on the online furniture stock actually could signal the bottom. The noted short seller isn't highly bearish on the stock where others he has claimed the stocks were virtually worthless. Citron just picks the stock to dip further to $70. 

Wayfair still appears in a down trend, but investors should start looking for an entry point with the previous lows around $80. 

Disclosure: No position 

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