Wayfair came public a little over a year ago and has become one of the most contentious and viciously hated stocks out there. In fact, short interest now represents some three-quarters of the shares that trade on the open market.
But Jim Cramer is not one to just go with the flow and took a closer look at it to see if it could be time for Wayfair's punishment to end.
Wayfair is the online purveyor of furniture and home goods with various brands such as Joss & Main, All Modern, Birch Lane and Dwell Studio. Over the summer it was hit with a vicious report from Citron Research, which prompted the stock to plunge to $33 from $53 in just one month.
The stock is also noted hedge fund manager Whitney Tilson's largest short position, and he thinks it is going to $10 within a year.
Yet, when Cramer looked at the numbers, Wayfair continues to beat the estimates even with the big decline over the summer. The stock has rebounded in the past few months and is up more than 100 percent year-to-date.
And while both the bulls and the bears have a strong case on Wayfair, Cramer spoke with its CEO Niraj Shah to get the inside perspective on where the company could be headed.
"The growth is because customers love what we are doing and keep coming back," Shah said.
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Cramer added that repeat is key to the growth of the company. It is the growth of repeat customers that has been off the charts, Shah says, which has allowed the business model to work. This is significant, because that means Wayfair does not have to spend as much money to find new customers from an advertising standpoint.
"A retailer does well if customers love what it does for them. And the repeat — whether they come back or not — is the key to the whole thing. You can get them the first time with marketing, but you can't get them the second time. You get them only if they really valued what you did," Shah added.