Why Etsy (ETSY) Stock Is Nosediving

Etsy's stock plummeted nearly 9% on October 29th after reporting Q3 earnings, despite beating Wall Street predictions. The drop was due to a decline in active buyers and a lower-than-expected profit margin forecast for the holiday quarter. Despite the sharp fall, Etsy's stock volatility is not unusual, and investor confidence can easily sway based on future growth prospects. Recent news of a potential US-China trade agreement and Fed interest rate cuts had briefly boosted Etsy's shares, but the stock remains about 9% lower than its October 2018 peak.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.