Etsy Stumbled This Year. Could the Stock Win Big in 2024?
While many consumer goods stocks rallied this year, one in particular sat on the sidelines. I'm talking about Etsy (NASDAQ: ETSY), an e-commerce company that offers artisans a platform where they can sell their creations. The stock is heading for a 27% loss in 2023 -- and that follows a decline of more than 45% last year.
After watching Etsy's shares and earnings soar during the earlier stages of the pandemic, investors worried the company wouldn't keep up the momentum as consumers returned to in-person shopping. Etsy did see growth slow, and a weakening economy weighed on the business, too. But Etsy also has offered us reasons to be hopeful about the company's future -- and the shares' potential. Could the stock win big in 2024?
Image source: Getty Images.
Source Fool.com
