After closing at an all-time high price of $297 in 2021, Etsy's (NASDAQ: ETSY) stock price has fallen by almost two-thirds to $107. Eager investors might be considering buying the stock today. But should they? Let's explore this further.
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When the pandemic hit in 2020, e-commerce platforms like Etsy benefited as users relied on online shopping for daily necessities. Sales transactions rose, propelling Etsy's revenue up by 111% in 2020 and another 35% in 2021. Investors even predicted that online sales would continue to grow at rates higher than the pre-pandemic period in perpetuity.
Source Fool.com