Market Recap – January 2nd 💰
Mid-day yesterday, the stock market is down, with all three major indexes slightly ranging from -0.10% to -0.30%.
Looking at specific investments, we’re watching Tesla and Etsy. Tesla has reported its year-end vehicle production and delivery numbers for 2022. The company delivered 405,278 vehicles and produced 439,701 cars in the fourth quarter of the year, bringing its full-year deliveries to approximately 1.31 million cars. In 2021, Tesla reported 308,600 vehicle deliveries in the fourth quarter and 936,172 full-year deliveries.
Etsy has seen impressive growth during the COVID-19 pandemic, with marketplace sales volume up 141% in Q2 2022 compared to pre-pandemic levels. The company’s success can be attributed to its platform and brand strength, and it has the potential to tap into a market worth hundreds of billions of dollars. Despite facing competition from Amazon, Etsy has thrived and is considered a robust platform with the potential for long-term growth. The recent drop in the stock price may make it an attractive investment opportunity for long-term investors.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.