1 Magnificent Growth Stock Down 66% that Could Roar Higher in 2024
Though many growth stocks skyrocketed last year, leading the three major indexes higher, some quality players got stuck on the sidelines. And one of those promising players is (NASDAQ: ETSY), an e-commerce company that connects sellers of handmade items with buyers. In fact, over the past three years, the stock has dropped about 66%.
Investors worried that customers, watching their wallets amid rising inflation, may put off discretionary purchases -- and these cautious investors haven't been entirely wrong. Etsy has posted quarters of declining gross merchandise sales (GMS) in 2022 and into last year. But, in recent times, the situation has started to brighten, and Etsy's long-term prospects look promising. These two factors could help this magnificent growth stock roar higher in 2024. Let's find out more.
Image source: Getty Images.
Source Fool.com
