Benzinga | Sep 23, 2020 02:58PM EDT

Why Wayfair's Stock Is Trading Lower Today

Wayfair (NYSE:W) shares are trading lower on Wednesday with the company's Way Day sale beginning today.

Weakness may be related to positive vaccine developments from Johnson & Johnson, which could hamper the outlook for home furniture despite stay-at-home' names being strong for the session amid pandemic concerns.

Wayfair is an e-commerce company that sells furniture and home-goods. Formerly known as CSN Stores, the company was founded in 2002.

Wayfair shares were trading down 6.69% at $283.82 at the time of publication. The stock has a 52-week high of $349.08 and a 52-week low of $21.70.