2023-04-20 09:00:00 ET
Etsy (NASDAQ: ETSY) was all the rage in the throes of the pandemic, when people were stuck at home and had plenty of time for online shopping. The website for craft-oriented creations drew enormous interest from buyers and sellers alike to its platform in 2020 and 2021 -- a tremendous boon for the stock.
With the world easing its way back into pre-COVID-19 normalcy, however, Etsy shares have lost much of their luster. They're currently trading 30% below February's high, and are down a whopping 66% from their late-2021 peak on (legitimate) worries the company wouldn't be able to maintain its red-hot growth pace.
As it turns out, the doubters were technically right -- except the bears have arguably overshot their target, and that translates into opportunity for investors looking at the future rather than remaining fixated on the past.
For further details see:
Etsy Is Down 66% From Its High. Time to Buy?