Why Etsy Stock Sank Today

·1-min read
Why Etsy Stock Sank Today

Shares of Etsy (NASDAQ: ETSY) fell 9.7% on Thursday, following the release of the online marketplace's second-quarter results. A 13% rise in gross merchandise sales -- essentially the dollar value of items sold on Etsy's platform -- helped to drive a 23.4% year-over-year increase in revenue, to $528.9 million. Looking ahead, management expects Etsy to generate revenue of $500 million to $525 million in the third quarter, which would be a year-over-year increase of roughly 13.5% at the midpoint.

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