Here's the Next Stock I'm Going to Buy
Many stocks have taken it on the chin recently, and e-commerce stocks have been no exception. Etsy has fallen more than 75% from its all-time high, and even a stalwart like Amazon has dropped almost 45% from its peak.
However, there are a few e-commerce stocks that, despite their steep sell-offs, are continuing to execute. One especially appealing option is Global-e Online (NASDAQ: GLBE), which is down almost 80% from its high mark, but the company is still growing. With the thesis on track, investors should take advantage of the discounted price.
Global-e has fallen alongside many e-commerce stocks due to the fear of a potential recession. Consumers are more likely to save extra cash for a rainy day instead of spending it on discretionary purchases. Other essential goods like groceries and gas are also more expensive as a result of inflation, so consumers are spending more on their necessities and less elsewhere. Whichever way you slice it, an economic downturn is bad for e-commerce stocks in the short term.
Source Fool.com
