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Why Overstock.com, Williams Sonoma, and Warby Parker Shares Rallied Big on Tuesday

·3-min read
Why Overstock.com, Williams Sonoma, and Warby Parker Shares Rallied Big on Tuesday

Shares of Overstock.com (NASDAQ: OSTK), Williams-Sonoma (NYSE: WSM), and Warby Parker (NYSE: WRBY) rallied on Tuesday, rising 11.8%, 4.6%, and 7%, respectively, on the day. As the markets rallied from July into August, it appears some speculative behavior is creeping back in, with meme-stock traders buying on any sliver of good news -- especially in heavily shorted stocks. For the beaten-down retail sector, that bit of good news came today in the form of Walmart's (NYSE: WMT) better-than-feared earnings report, as well as Home Depot's (NYSE: HD) revenue and earnings beat.