1 Growth Stock Down 42% to Buy Right Now
With the Nasdaq Composite up an impressive 31% so far in 2023, investors might assume that most companies have benefited from the market's recent rally. But they would be wrong. Take e-commerce marketplace operator (NASDAQ: ETSY), whose shares are down a whopping 42% this year. They're also 77% below their peak price from November 2021.
It's evident that this online shopping destination for unique and handcrafted goods has been dealing with a notable slowdown, but the beaten-down share price presents a buying opportunity for investors interested in this growth stock.
Etsy was posting ridiculous growth during the worst of the pandemic, with revenue rising 111% in 2020 and 35% in 2021. Gross merchandise sales (GMS), a figure that measures the transaction volume on the platform, was up 107% in 2020 and 31% in 2021. Many e-commerce companies benefited from the surge in online shopping during that time, and Etsy was no different.
Source Fool.com
