Jim Cramer Says "Etsy's Not Particularly Doing Well Either, But At Least They're Making Money"

Etsy, Inc. (NYSE:ETSY) is one of the stocks on Jim Cramer’s radar. Cramer said that the whole industry is not doing well, as he said:

“Sadly, this whole industry just, I don’t know, might not be that good. If you feel compelled to bet on something in this space, and trust me, you really don’t have to, then I’d pick Etsy, the Depop parent. Of course, Etsy’s not particularly doing well either, but at least they’re making money and the stock’s relatively cheap at 14 times this year’s earnings estimates… It’s just better than ThredUp.”

Etsy, Inc. (NYSE:ETSY) runs online marketplaces that link buyers with independent sellers across handmade goods, musical instruments, and fashion resale. During the July 2 episode, a caller inquired whether they should hold or sell the stock, and Cramer replied:

“Oh no… I don’t want you to sell. Now this is a problematic story because I do believe there are execution issues, but I also think there’s a core belief that there’s a lot of value here, and that’s why this stock’s at $52 after this bad quarter, not at $40. I want you to hold onto it. And if it goes back to where it was at a low, I want you to buy more. The franchise is worth more than the stock.”

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