2023-03-15 09:37:00 ET
High inflation and rising interest rates caused many investors to shun growth stocks in favor of safer assets in 2022. Even competitively advantaged and profitable enterprises like Etsy (NASDAQ: ETSY) were punished. With economic uncertainty remaining high, there are opportunities for long-term investors to scoop up great businesses at discounted valuations.
As of this writing, Etsy's shares are down 62% from the all-time high they set in November 2021. This means the stock might look like a good buy right now. Here's why.
While some industries were seriously punished by the coronavirus pandemic, others absolutely thrived. With consumers spending more time than ever at home, the e-commerce sector boomed. And Etsy benefited tremendously.
For further details see:
1 Growth Stock Down 62% to Buy Right Now