One of our online retailers is Wayfair. I was looking at their Q4 2017 10K and surprised their price is going down. Couple points: Undervalued compared to Amazon (compare market cap to annual sales). Amazon’s market cap is more than 4X revenue. Wayfair is just over 1X revenue. Wayfair has posted losses, but they are investing heavily in a growing business. Getting close to top 10 online retailer and in terms of home furnishings I suspect they are actually LARGER than Amazon. Year over year, sales went UP (46% in Q4 2017) while COGS and overhead were relatively consistent or…
