Down 46% This Year, Is It Time to Buy Etsy Stock?

(NASDAQ: ETSY) shoppers are used to hunting for good deals, but this time it might be investors who get the killer discount. The marketplace platform's stock trades down more than 40% so far in 2023 even as the Nasdaq Composite index rose 26% over the same timeframe.

There are some good reasons for the performance gap, of course. Etsy hasn't exactly wowed Wall Street in its past few earnings reports. Sales volumes are sluggish, and profitability is falling as consumers scale back on e-commerce shopping.

Pessimism can be an investor's best friend, though, as it generates attractive valuations for what are potentially short-term reasons. But is that what's happening with Etsy right now?

Source Fool.com