This E-Commerce Stock Just Outgrew Amazon, Etsy, and Wayfair
The second quarter was a rough one for e-commerce stocks.
A number of big names plunged on earnings as they faced difficult comparisons with Q2 2020 when lockdowns drove a surge in online sales. Amazon, for example, fell nearly 8% on its earnings report after the company missed revenue estimates with growth slowing from 44% in the first quarter to 27% in the second quarter. At Etsy, which fell 10% on its second-quarter earnings report, the drop-off was even steeper as the artisan-based online marketplace posted revenue growth of 23% compared to growth of 132% in the first quarter.
Some popular e-commerce stocks, like Wayfair and Wish.com-parent ContextLogic, even saw sales decline in the second quarter, showing the sudden headwinds that much of the online retail sector is facing as consumers return to regular spending habits and shopping in brick-and-mortar stores.
Source Fool.com
