Etsy results disappoint investors
Etsy has delivered its first quarterly results as a public firm floated on the NASDAQ stock exchange and they aren’t brilliant.
Shares have fallen by about a third on the news, taking them pretty close to their original IPO price. The books showed an unexpected loss and the firm pledges to increase investing in the business. None of this delights the hard hearts of Wall St.
As we noted before, Etsy has taken a gamble. It seeks to operate as a publicly traded company and yet also retain its homespun approach placing community and customer satisfaction ahead of profits and share price. And it rather begs the question as to why they tried. It’s an unwinnable war.
It doesn’t help that some investors are worried about trademark issues.
I am forced to wonder why they didn’t continue to try and plough their own admirable furrow as a privately held company rather than go down the conventional route of an IPO.
You can read more on Marketwatch.