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Why Etsy Sank Today

TheMotleyFool

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Why Etsy Sank Today: https://g.foolcdn.com/editorial/images/835707/gettyimages-1385067299.jpg

Shares of homemade goods-related e-commerce site (NASDAQ: ETSY) sank 12.3% on Monday as of 1:44 p.m. ET.

The magnitude of Etsy's fall today was likely augmented by a big surge in the stock yesterday, after the company announced a partnership with artificial intelligence (AI) darling ChatGPT.

However, not only did Wall Street analysts pour cold water on the benefits of the partnership today, but a worse-than-expected consumer sentiment reading took down most consumer discretionary stocks across the board as well.

Source Fool.com