Etsy stock is in danger of breaking below its lower uptrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... wall of support on February 21, 2023. The break comes after Citron Research published a critical report stating, “management has knowingly or, at the very least, negligently, turned this company into the largest organized clearing house for counterfeit goods in the world while not only allowing the behavior but encouraging it and promoting it by selling placement and status to the millions of sites that regularly violate copyright laws.”
A break below $125.56 could see Etsy stock fall back to horizontal support at $115.11.
Citron believes Etsy is walking on eggshells with the FTC, DOJ, SEC, Customs and Border Protection, and the multitude of brands whose trademarks are being stolen and exploited daily. You can read the entire Citron report here: https://citronresearch.com/wp-content/uploads/2023/02/Citron-Exposes-the-Dirty-Secrets-of-Etsy.pdf