Etsy Is Down 58% From Its High. Time to Buy?
Over the past five years, shares of Etsy (NASDAQ: ETSY) have produced a monster return of 489%, absolutely trouncing both the S&P 500 and the Nasdaq Composite. This means that a $1,000 investment in February 2018 would be worth $5,890 today. That's impressive no matter how you look at it.
But what goes up has since come down. As of this writing, Etsy's stock is down 58% from its all-time high, which was set in November 2021. Does this mean now is an opportune time to buy shares? Let's take a closer look at what investors need to know about this top e-commerce company.
In 2022, Etsy increased revenue by 10.2%, which showed a major slowdown from the 111% and 35% gains in 2020 and 2021, respectively. Those prior two years were undoubtedly boosted by the pandemic leading to a shift in online spending for physical goods, which was helped by consumers who benefited from government stimulus checks.
Source Fool.com