If I Could Buy Only 1 Stock, This Would Be It
With the stock market taking a massive hit this year, many high-quality businesses have gone on sale. Prudent investors can either choose to add to their existing holdings or finally buy shares in a company that has long been on their watch list. But one thing is for certain: Now is not the time to abandon your investing strategy.
I'm looking at a business that provides its customers with a valuable service, possesses outstanding financials, and sells for an attractive valuation. If there was only one stock I could buy right now, it would be Etsy (NASDAQ: ETSY). Let's take a closer look at why.
The e-commerce marketplace for unique and handcrafted goods provides a significant value proposition for its user base, and this is critical for investors to know. A 2020 survey of Etsy shoppers showed the vast majority (88%) of users say the site offers items that they can't find anywhere else. For many of the company's 95.1 million active buyers as of the first quarter, Etsy is an irreplaceable shopping destination. And over time, the average active buyer tends to spend more on the platform. Consumers are increasingly interested in supporting small businesses, a trend that benefits Etsy's network of sellers.
Source Fool.com
