ETSY - Is This Beaten-Down Stock a Millionaire Maker?
2024-05-12 03:04:00 ET
For many investors, an ideal outcome is to find a business that can turn relatively modest investments into a $1 million position one day. By focusing on high-quality businesses trading at compelling valuations, getting to that seven-figure number is a possibility over the long term.
But could Etsy (NASDAQ: ETSY) be the kind of stock that could get you there? The e-commerce company's shares currently trade 79% below their all-time high, so while it has been disappointing its long-term shareholders, it could have plenty of room for a rebound.
The first-quarter report Etsy delivered on May 1 clearly upset Wall Street, based on the stock's immediate 15% drop in its wake. The numbers point to continued struggles for the business.
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Is This Beaten-Down Stock a Millionaire Maker?