Etsy Stock Surged 260% in 2020 -- Is It a Buy for 2021?
Etsy's (NASDAQ: ETSY) stock more than tripled this year as the pandemic caused more people to shop online. Orders for Etsy's handmade goods surged, while online sales of musical instruments at Reverb -- which it acquired last August -- jumped as brick-and-mortar stores closed down.
But as new vaccines arrive, investors might be wondering if they should take profits in Etsy and buy cheaper stocks that could rebound in a post-pandemic world instead. Let's look back at how rapidly Etsy grew in 2020, the main challenges it faces in 2021, and whether or not it's still worth buying.
Etsy's online marketplace for handmade goods flourished in Amazon's (NASDAQ: AMZN) shadow, for three simple reasons. First, Etsy enjoyed a first-mover advantage in the handmade market.
Source Fool.com
