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DeepCap AI gets it right most of the time. But in the case of ETSY, the stock has been stuck in a sideways motion. It has been drifting down ever since the beginning of the year.
Record volume transactions occurred on 2 May 2024 after a large gap down (due to disappointing earnings), and the market has been waiting to sell every time the stock started to recover towards $85.
Yesterday’s earnings were disappointing to the market (despite revenues that exceeded expectations), and today the stock is trading more than -7% down (at time of writing). Our analysts are therefore overriding DeepCap AI with this one and removing it from the DeepList.
If you own ETSY, don’t sell it today. Wait for 2 days for it to recover first. That’s what the market has been doing to this stock.
