The share prices for Wayfair have experienced a dip in the premarket trading. The share prices for the furniture retailer experienced a plummet after the analysts at Wells Fargo downgraded its stock status.
The reports have confirmed that the stock status for Wayfair was downgraded by the Wells Fargo analysts to “underweight”. Before the analysts had made the change to Wayfair’s stock status, it was at “equal weight”.
According to the analysts at Wells Fargo, the demand for high-end furniture has been waning. People are now going for more affordable furniture due to a great rise in the inflation rates.
Going forward, Wayfair may need to lower its sales targets, which would directly impact the sales and revenues generated by the furniture retailer. After the announcement, the shares of Wayfair ended up experiencing a 4.1% dip.
Rent the Runway
The share prices for Rent the Runway have experienced a 3.9% surge in the premarket action. The share prices for Rent the Runway experienced a surge after it announced it had increased the subscription fees for its subscribers.
The share prices for SoFi Technologies experienced a 5.1% plummet in post-market trading. The share prices for the online personal finance company dipped after it shared its full-year outlook for the running year.
The outlook is shared for the entire year had the estimations cut down. The reason behind SoFi Technologies making such a decision was the recent announcement made by the White House.
In the announcement, the White House officials confirmed that the suspension implemented on the student loan payments would remain in the same state. For now, the White House has not given a time period, so it is not known how long the suspension would last.
The share prices for JD.com ended up experiencing a 1.1% dip in the premarket action. The dip was observed following an announcement that Richard Liu, the founder of JD.com had stepped down from his CEO post at the company.
The announcement added that the new Chief Executive Officer of the China-based e-commerce platform would be Xu Lei. Xu Lei is already acting as the President at JD.com and he will now handle the responsibilities of a CEO as well.
Although Richard Liu has left the post of CEO, still, he would remain the chairman of the e-commerce company.
The share prices for Teladoc Health have experienced a 1.5% elevation in the post-market action. The rise was observed after Guggenheim upgraded the stock status for virtual doctor-providing companies. The analysts at Guggenheim reportedly upgraded the stock status for Teladoc Health to “buy”.
Prior to the change, the stock status for Teladoc Health was “neutral”. According to the Guggenheim analysts, over time, people have started shifting their preference from physical doctor appointments to virtual. Therefore, Teladoc Health has more potential for growth than other medical sectors.