Etsy Stock Bounces Off Lows Despite Downgrade

Group 1 - Goldman Sachs downgraded Etsy Inc (NASDAQ:ETSY) to "sell" from "neutral" and lowered its price target to $45 from $70, citing expectations of continued market share loss amid increased competition [1] - Etsy's stock is down 39.3% in 2024 and recently hit a four-year low of $48.06, trading below all moving averages between the 20- and 320-day trendlines [1] - Despite the downgrade, Etsy's shares rose by 1.9% to $50.52 at the last glance [1] Group 2 - In the options market, Etsy has seen double the typical amount of call options, with the October 52 call being the most popular [2] - The equity's 50-day call/put volume ratio stands at 2.75, which is higher than all other readings from the past year [2] Group 3 - Short interest in Etsy represents 15% of the stock's available float, indicating it would take over four days for shorts to cover at the average trading pace [3]