ETSY - Etsy's 30% Slump in 2023 Could Be a Brilliant Entry Point for Returns in 2024 and Beyond
2024-01-24 01:59:00 ET
Let's talk Etsy (NASDAQ: ETSY) , the 2024 edition.
Last year, the e-commerce site's stock price took a 30% nosedive. CEO Josh Silverman noted at the end of 2023 that the company faced a "challenging environment for spending" on the types of goods the company helps sell through its online marketplace. Gross merchandise sales (GMS) grew by only 1.2%, and external pressures including inflation weighed heavily on consumer-to-consumer sales.
It may sound like trouble in paradise, but there's more to this story than just the shares taking a tumble. Etsy isn't just another online shop; it's the go-to platform for all things handcrafted and unique. And this niche marketplace pulled in a cool $2.7 billion in revenue last year.
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Etsy's 30% Slump in 2023 Could Be a Brilliant Entry Point for Returns in 2024 and Beyond