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Why Etsy Stock Sank Today

TheMotleyFool

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Shares of Etsy (NASDAQ: ETSY) fell 9.7% on Thursday, following the release of the online marketplace's second-quarter results.

A 13% rise in gross merchandise sales -- essentially the dollar value of items sold on Etsy's platform -- helped to drive a 23.4% year-over-year increase in revenue, to $528.9 million. That was above the $524.7 million in revenue Wall Street had expected.

Investors sold off shares of Etsy on Thursday. Image source: Getty Images.

Source Fool.com

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