** Shares of online marketplace Etsy up 13.5% at $54.48
** Co's board approves new stock repurchase program authorizing an additional $1 bln of Etsy's common stock
** Co's Q3 gross merchandise sales fell 4% to $2.92 billion but beat expectations of $2.89 billion - LSEG
** ETSY is making a lot of changes to clean up assortment, search and overall consumer experience, but GMS headwinds likely to persist until discretionary demand firms up - Barclays analysts in a note
** YTD, ETSY down 40% as of last close
(Reporting by Juveria Tabassum in Bengaluru)
((Juveria.Tabassum@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments