ETSY, EBAY, and SE are three e-commerce stocks investors should be watching
Amazon.com (AMZN) and Alibaba (BABA) usually dominate the headlines in the e-commerce space, which is no surprise considering their combined market cap surpasses $2 billion. However, there are other stocks in the sector with intriguing technical setups that are worth monitoring.
Etsy Inc (NASDAQ:ETSY) stock is down 9.5% at $58.97 at last check today, following the company’s mixed second-quarter report. Though earnings beat estimates on consistent demand for personalized gifts, revenue came in below expectations. On the charts, the $66 level has kept a cap on rallies over the past few months, including just last session, making it difficult for Etsy stock to recover any of its 27.1% year-to-date deficit.
eBay Inc (NASDAQ:EBAY), on the other hand, is soaring to two-year highs today after its second-quarter beat, up 1.4% at $56.40 at last check and earlier marked a two-year high of $57.68. The security has carved out a channel of higher lows since early March, and is sporting a 29.6% gain in 2024.
Sea Ltd (NYSE:SE) stock is down 2.5% at $64.06 at last glance, though emerging support at the $64 level appears to be keeping losses in check. This potential floor came into play after 11-straight daily losses placed the stock below its 100-day moving average on July 25 — a trendline the stock had been well above since February. Year to date, the equity is up 57.9%.