Wayfair Surges 20% Higher After Q1 Beat

Wayfair Inc W shares are trading higher by $11.45 (22 percent) at $62.58 in Tuesday's session.

The catalyst for the huge rally is a Q1 adjusted EPS beat of $0.10 along with a sales beat of $25 million.

See Also: Andrew Left Scrutinizes Wayfair's Q1 Earnings, Says Company Will Never Make Money

After a much higher open, Wayfair's stock had a brief retreat to $56.75, which was well ahead of the top of Monday's range ($51.14), before continuing its move higher. The current low coincides with its former all-time high ($56.84) that was made in August 2015.

So far, the continuation rally took the stock all the way to $63.25, but has fallen back into the $62.00 handle.