For many once high-flying pandemic-boosted businesses, growth has slowed dramatically in a different economic environment. (NASDAQ: ETSY) fits squarely in this category.

The online marketplace for unique, vintage, or handcrafted goods reported a 0.7% year-over-year decline in gross merchandise sales (GMS), with its net income cratering 24%. Based on the shares' immediate drop, investors weren't too pleased with the fourth-quarter 2023 financial update that management provided.

But the e-commerce stock, which is trading 76% below its peak price, strikes me as a smart buy for three very important reasons.

Continue reading

Source Fool.com