ETSY - 1 Incredible Growth Stock Down 77% You'll Regret Not Buying on the Dip
2024-03-10 10:15:00 ET
Investing in growth stocks requires a lot of patience and a tolerance for pain. A growth stock could go up much faster than the market, but it could also fall a lot harder.
Such is the case of Etsy (NASDAQ: ETSY) . The once high-flying stock, fueled by a deluge of early pandemic purchases, is currently suffering a massive hangover in its earnings three years later. Shares currently trade around 77% below their all-time high reached in 2021.
To be sure, Etsy's most recent earnings report was disappointing. Gross merchandise sales (GMS) fell 0.7% year over year, ending the full year down 1.2%. Guidance wasn't very inspiring, either, with management expecting another year-over-year decline in GMS.
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1 Incredible Growth Stock Down 77% You'll Regret Not Buying on the Dip