E-commerce companies experienced a slowdown in their businesses in 2022 following the pandemic boost they received in the previous two years. The poor fundamental performance impacted their stock prices.
Shares of Etsy Inc (NASDAQ: ETSY) spiked in pre-market trading on Wednesday.
The New York-based company exited the pandemic stronger and has been able to hold onto the pandemic gains, according to Needham.
With inflation at its highest levels in over four decades, many Americans are looking for new alternatives to reclaim their purchasing power and avoid making painful spending cuts.