1 Top E-Commerce Stock to Buy Hand Over Fist in 2023
With brick-and-mortar retailers temporarily shuttering locations during the depths of the coronavirus pandemic, consumers turned to online shopping. And Etsy (NASDAQ: ETSY) was a major beneficiary, being able to quickly respond to surging demand thanks to its broad assortment of unique merchandise. The stock was up 302% in 2020 and 23% in 2021.
Then things took a turn for the worse last year as consumers returned to physical stores and investors soured on Etsy's stock. Shares were down 45% in 2022. But Etsy is on the rise again. As of Jan. 25, the stock is up 14% so far this year. Still well below its all-time high, here's why Etsy is a top e-commerce stock to buy in 2023.
Etsy posted stellar revenue and gross merchandise sales (GMS) growth of 35% and 31%, respectively, in 2021. But there's no denying that the business has been dealing with some headwinds that began last year.
Source Fool.com
