Etsy Stock ( NASDAQ:ETSY )
For online retailers like Amazon.com Inc.( NASDAQ:AMZN ), rising expenses due to inflation have made Etsy ( NASDAQ:ETSY ) a breakthrough star in the second half of the year.
The stock price of the Brooklyn-based shop had increased by 78% since hitting a low in mid-June of 2022, outperforming competitors such as Amazon, Shopify (NYSE:SHOP), Inc., and EBay, Inc. Etsy’s stock price has nearly doubled from its low point during the coronavirus epidemic in March 2020, but it had fallen significantly from its high last year when the pandemic spurred a rush into all things e-commerce.
On Monday, the Etsy stock increased by 2%.
Since Etsy is only a marketplace where individual sellers may list and sell their items, it doesn’t have the same huge outlays in warehouse space or stock that a conventional shop would. In addition, the market expects sales growth to quicken in the following years.
Pedro Palandrani, director of research at Global X ETFs, said, “the nature of Etsy’s business model has been a huge benefit for the firm — particularly heading into the Christmas season.”
As billions of housebound customers turned to online platforms for shopping, e-commerce companies skyrocketed to eye-watering values during the epidemic. The resumption of economic activity has resulted in significant stock market repercussions from the collapse of that bubble.
Also, the Federal Reserve has raised interest rates in response to growing inflation, which has resu...
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