What's Going On With Wayfair Stock Monday?

Wayfair Inc. (NYSE:W) shares fell in Monday’s premarket session. This follows a 2.99% decline on Friday. While broader markets show strength, internal selling weighs on the e-commerce giant.

Nasdaq futures are up 0.69% while S&P 500 futures have gained 0.73%.

Massive Insider Share Offload

Recent filings show heavy selling by top brass. CEO Niraj Shah sold 109,389 shares at a $77.19 weighted average. He also offloaded 10,611 additional shares. These transactions left him with 49,137 direct shares.

Director Joins Selling Spree

Director Steven Conine mirrored these moves. Conine sold 109,606 shares at a $77.19 weighted average price. Further transactions involved 10,394 shares at prices up to $79.34.

High Short Interest Persistence

Benzinga data shows short interest in Wayfair recently decreased from 19.03 million to 18.73 million shares. Despite this, 23.48% of the float remains short. Based on average volume, shorts need 5.52 days to cover positions.

Technical Analysis

Wayfair is trading 6.9% below its 20-day simple moving average (SMA) and 25.9% below its 100-day SMA, keeping the intermediate trend pointed down even as the stock tries to stabilize.

Shares are up 123.23% over the past 12 months, but the current price is positioned closer to the middle of its 52-week range than the January highs.

The RSI is at 39.19, which sits in neutral territory. Meanwhile, MACD is at -2.9426 versus a signal line at -3.4561.

• Key Resistance: $81.50
• Key Support: $70.50

W Stock Price Activity: Wayfair shares were down 1.10% at $70.71 during premarket trading on Monday, according to Benzinga Pro data.

Photo by Tada Images via Shutterstock