1 Growth Stock Down 73% to Buy Right Now
(NASDAQ: ETSY) benefited tremendously from the pandemic, when consumers had extra cash to spend and turned their attention to online shopping. However, growth has slowed as higher interest rates and inflationary pressures hurt discretionary spending activity.
As a result, this e-commerce stock has gotten crushed -- dropping 45% in 2022 and 32% in 2023. Etsy's shares currently sit 73% below their all-time high price, and that could make this growth stock a smart buying opportunity. Let's take a closer look.
When investors think about the e-commerce sector, Amazon is probably the first company that comes to mind. The tech giant attracts nearly 40% of all online spending in the U.S.
Source Fool.com
