US Handmade Platform Stock Loses $300 Million in Market Value in One Day

U.S. e-commerce company Etsy Inc. (ticker: ETSY) saw its share price close at $49.85 on the New York Stock Exchange on the 24th, down 5.03% from the previous day. The company’s market capitalization stood at approximately $4.798 billion (about KRW 6.5 trillion), and roughly $230 million (KRW 310 billion) in value was wiped out in a single trading session. Trading volume reached 3.06 million shares.

Last year, Etsy moved its listing from NASDAQ to the New York Stock Exchange. In January, former Chief Growth Officer Kruti Patel Goyal was appointed CEO, while former CEO Josh Silverman transitioned to Board Chair, completing a governance restructuring.

Founded in 2005 in Brooklyn, New York, Etsy is an e-commerce platform specializing in handmade and vintage goods as well as craft supplies, operating a marketplace that connects small creators and individual sellers with consumers worldwide. After explosive growth during the pandemic, debates over its fee policies and platform quality have made the balance between medium- to long-term growth and profitability a key focus for investors.