Down 34% in 2023, Can Etsy Stock Turn It Around in 2024?
Etsy (NASDAQ: ETSY) is one stock that hasn't come close to regaining its 2021 highs. In fact, the e-commerce site has continued to decline since reaching its peak in 2021 and is now down more than 70% from its all-time high. While investors would love for the stock to regain its highs, many would settle for it to regain some of its value. But the company hasn't done much to instill confidence in the investor base with recent results. So could 2024 be Etsy's rebound year?
Etsy is the market leader in custom and handmade goods and saw a massive adoption spike during COVID lockdowns when many people searched for customized gifts for family and friends. Since that initial expansion, Etsy hasn't seen much gross merchandise sales growth.
Data source: Etsy.
Source Fool.com
