Why Etsy Could Be a Breakout Stock This Year
E-commerce, by design, involves a customer purchasing goods over the internet. This avenue often results in hardly any human interaction, unless something goes wrong. One e-commerce company whose mission is "to keep commerce human" contrasts with websites typically used to purchase goods online.
Etsy (NASDAQ: ETSY) is an online marketplace where individuals and businesses can open a digital store to sell customizable, handmade goods. COVID-19 drove a massive sales boost for the company as it became the go-to place to purchase face masks in the early stages of the pandemic. The business captured millions of new shoppers over the past two years, but the stock is down over 60% from its all-time high as the market reevaluates pandemic-boosted stocks. Could now be the right time to add or start a position in Etsy stock?
Image source: Getty Images.
Source Fool.com
