Why Etsy Stock Dove 25% in April
Etsy (NASDAQ: ETSY) shareholders lost ground the market last month as shares dove 25% compared to a 9% decline in the S&P 500, according to data provided by S&P Global Market Intelligence. The drop contributed to significant losses so far in 2022 for owners of the online marketplace stock. Shares are down nearly 60% this year compared to a 14% drop in the wider market.
The slump was driven by fears about an impending growth hangover as consumers change their shopping behavior following a period of intense focus on e-commerce through earlier phases of the pandemic.
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Source Fool.com
