ETSY - 1 Growth Stock Down 75% to Buy Right Now
2024-02-06 05:45:00 ET
While the giant tech companies tend to steal the attention during earnings season, investors shouldn't hesitate to look at smaller businesses that might fly under the radar. Etsy (NASDAQ: ETSY) is one such company. It's not getting love from Wall Street because its growth has stalled in the current economy.
But don't be discouraged. Although Etsy is down 75% from its peak price (as of Feb. 2), it's definitely a growth stock you want to buy right now.
Selling unique, specialized goods during the pandemic helped Etsy thrive. It posted monster growth in 2020 and 2021. However, things started slowing dramatically in 2022 and into last year. Through the first nine months of 2023, the business reported gross merchandise sales (GMS) of $9.2 billion, equaling a 1.4% year-over-year drop.
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1 Growth Stock Down 75% to Buy Right Now