E-commerce and online marketplace company Etsy (ETSY) was a darling of the coronavirus pandemic, but has since come back to earth and is believed to be in the early stages of hitting bottom. According to our research, it qualifies as a “bearish to bullish” reversal buy. The stock’s performance over the past five years has been impressive. From the COVID-19 low of $29.95 in 2020 to the peak of $307.75 in 2021, “10 times”…then lost 81% of its value in 2022 and 2023, hitting a low of $47.10 in October of this year. Now, the stock is “turning around” as of late, having recently topped $60 per share. “10 bagger” and then an 81% retreat. A trajectory can be described as a “round trip to nowhere.” 2020 COVID low… $29.95 2021 peak… $307.75 2024 low… $47.10 Right here and now, the stock qualifies as a “bearish to bullish” reversal buy. The two charts below illustrate this point. Based on our research, the $85+/- level is a reasonable price target. -Carter Braxton Worth For actionable advice via email and nightly live videos, become a member at worthcharting.com Disclosure: (none) All opinions expressed by CNBC Pro contributors are theirs alone and do not reflect those of CNBC , NBC UNIVERSAL, their parent or affiliated companies, and may have been previously disseminated by them on television, radio, online or other media. The above is subject to our Terms and Conditions and Privacy Policy. This content is for informational purposes only and does not constitute financial, investment, tax or legal advice or a recommendation to purchase any security or other financial asset. The content is general in nature and does not reflect any individual’s unique personal circumstances. The above may not apply to your particular situation. Before making any financial decisions, you should strongly consider seeking advice from your own financial or investment advisor. Click here to view the complete disclaimer.
