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Etsy stock (NASDAQ: ETSY) has crashed by around 80% from the highs seen in 2021, with the stock currently trading at about $56 per share. Several factors have driven the sharp sell-off.
Etsy (ETSY) reported earnings 30 days ago. What's next for the stock?
BROOKLYN, N.Y. , Aug. 28, 2024 /PRNewswire/ -- Etsy, Inc. (Nasdaq: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced participation at the following webcasted investor events, which you can find on our investor relations website at investors.etsy.com.
Etsy operates a differentiated platform supported by network effects. Gone are the days of monster growth that happened during 2020 and 2021.
Etsy's gross merchandise sales growth was once again negative in the latest quarter. As a two-sided platform, Etsy benefits from network effects.
The S&P 500 has been a common choice for passive investors. It has delivered steady returns over the years, especially for investors who withstood market corrections and continued to make regular investments.
Inflation has been a prevailing issue for consumers that's been reflected in their discretionary spending habits, rippling across the restaurant services and retail landscapes. Etsy (ETSY) CEO Josh Silverman joins Market Domination to give insight into the state of the consumer, the website's second quarter earnings beat, and how it may operate moving forward.
Amazon.com (AMZN) and Alibaba (BABA) usually dominate the headlines in the e-commerce space, which is no surprise considering their combined market cap surpasses $2 billion.
Etsy shares fell after the e-commerce company reported second-quarter results. While gross merchandise sales for the period came ahead of expectations, Morgan Stanley said it was skeptical on the pacing of the metric's acceleration.
Net income fell to $53.0 million due to a $7.2 million retroactive non-income tax expense, impacting margins. Revenue increased 3.0% to $647.8 million, driven by marketplace and payments revenue, aligning with expectations.