A Bull Market Could Be Here: 3 Reasons to Buy Etsy Stock

There's no denying that recent economic malaise has been a bit of a problem for e-commerce outfit (NASDAQ: ETSY). Although revenue was up 7% year over year during the third quarter, its gross merchandise volume was only up 1%. And were it not for favorable exchange rates, the handicraft platform's sales would have essentially been flat.

While the quarter's results end a short streak of deteriorating numbers, CEO Josh Silverman conceded, "We are undoubtedly operating in a challenging environment for spending on consumer discretionary items."

Still, the economy is looking increasingly healthier. Data from the U.S. Department of Commerce indicates the country's gross domestic product grew an unexpectedly strong 5.2% in the third quarter, driving corporate profits higher to the tune of 4.3%. Inflation is leveling off too, not only negating the need for more interest rate hikes but perhaps even opening the door to rate cuts. The unemployment rate remains quite low as well.

Continue reading

Source Fool.com