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Why Etsy's Stock Slid 19.8% in May

Why Etsy's Stock Slid 19.8% in May

Shares of Etsy (NASDAQ: ETSY) fell by 19.8% in May, according to data provided by S&P Global Market Intelligence. Etsy released its fiscal 2023 first-quarter earnings last month, and the numbers showed a continuation of the decline in e-commerce volumes that have plagued the industry. Gross merchandise sales (GMS) fell by 4.6% year over year to $3.1 billion after dipping by 1.3% year over year for the whole of 2022.