Can Etsy Stock Bounce Back in 2024 After Falling 60% in the Past 2 Years?
Etsy (NASDAQ: ETSY) runs an online marketplace that focuses on quality products, including many that are handmade, as a way to differentiate itself from what you might find on many other sites, where the focus is often on low-priced goods. Etsy has experienced significant growth as it has carved out a niche for itself.
But over the past two years, with consumers becoming more price-conscious and inflation putting pressure on household budgets, investors have grown concerned about Etsy. Since 2022, the stock is down more than 60%. Has this just become the latest stock to thrive during the pandemic only to bust on a return to normal, or is Etsy a bargain buy in 2024?
E-commerce has been volatile in recent years. Amid lockdowns and stimulus payments, consumer spending was strong, and businesses performed better than they otherwise should have. Etsy is no exception, and the following chart helps to illustrate its roller-coaster ride.
Source Fool.com
