ETSY - Perhaps the Next Amazon?
Although Etsy was founded in December of 2012, it hasn't been well known to the public until recent years. It received some attention in 2018 but its big debut came with the COVID-19 pandemic. The service proves a market for self-employed crafters and artists wanting to sell their handmade products. This type of service is beneficial for 2 reasons:
1) With the cancellation of most events towards the beginning of the pandemic in March, people turned to sharpening their hobbies or spent time learning something new. Speaking from a personal experience, the trend started with making dalgona milk tea and spread out to making a variety of different things. Point is, personal development through craft, which ETSY is made for, has been a growing trend in the COVID-19 pandemic era.
2) ETSY is also an online market, something that is on the trending horizon. Even retail stores such as Target and Walmart have been moving towards having an online format for the purpose of retailing and reaching out to more people. Especially because COVID-19 disapproves of people going physically to retail stores, online stores such as ETSY seem to be our future.
Although I lost the option to buy it when the instability caused by the election dropped stock prices, I think it is a good time to buy ETSY stocks. Amazon is valued at $3000+ and Shopify, a similar service, is valued at around $1000. While I have heavy doubt that ETSY will reach the level Amazon has or even the level which Shopify has, I have strong belief that 1) the continuation of quarantine will expand ETSY's boundaries and 2) ETSY will remain popular even after the end of this pandemic.
After much debate, I have decided to buy this stock, pricing in at around $129 per share.
Please message me if you have anything you want to comment!
Photo used from: https://commons.wikimedia.org/wiki/File:Etsy_logo.svg