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Benzinga
Benzinga
Business
Happy Mohamed

Why Shares Of Etsy Are Nearing 52-Week Lows

Nasdaq US Federal Reserve Etsy Inc

Etsy, Inc. (NASDAQ:ETSY) shares are trading lower by 11.4% to $67.36 amid overall market weakness after the Federal Reserve on Wednesday raised its target fed funds rate by 75 basis points to a new range of between 1.5% and 1.75%, its largest interest rate hike in 28 years.

“Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures,” the Fed said in a statement… Read More

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