Etsy (ETSY) Books Hefty Loss After 52-Week High

We recently published 11 Stocks Failing to Keep up With The Market. Etsy, Inc. (NASDAQ:ETSY) is one of the top performers on Tuesday.

Etsy snapped a two-day winning streak on Tuesday, shedding 10.69 percent to end at $66.39 apiece as investors resorted to profit-taking following its surge to a record high in the previous trading day.

In recent news, Etsy, Inc. (NASDAQ:ETSY) announced that it would transfer trading to the New York Stock Exchange (NYSE) beginning October 13 and cease on the Nasdaq on October 10.

Etsy (ETSY) Books Hefty Loss After 52-Week High

Investors initially viewed the announcement positively, as getting listed on the NYSE—the largest stock exchange in the world—could help bolster its public exposure to a higher number of institutional and retail investors.

At present, the NYSE holds a roster of 2,300 listed companies with an overall market capitalization of $31 trillion, followed by the Nasdaq with $29 trillion in total market cap.

“We’re excited to join the [NYSE] and stand alongside some of the world’s most respected and innovative companies,” said Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman.

“For 20 years, Etsy has connected tens of millions of thoughtful shoppers with creative entrepreneurs around the world, and we will continue to keep commerce human as we build even more personalized and differentiated shopping experiences. We’re looking forward to partnering with the NYSE to deliver on our commitments to transparency, excellence, and creating long-term shareholder value,” he added.

While we acknowledge the risk and potential of ETSY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ETSY and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.