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Etsy Stock Is Tanking

Photo: Driely S.

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Etsy shares sunk to new all-time low today. The online craft hub went public in the spring of 2015, and Bloomberg reports that Etsy's stock plunged as much as 9.1% on Monday to $7.62. That is the lowest the stock price has been since it started trading on April 16, when the brand closed its first day of trading on the NASDAQ at $30.

Today was the first day that Etsy's insiders and early investors could sell their stock, as part of a lockup agreement. These shares were reportedly owned by executive officers, directors and "certain stockholders," according to a SEC filing.

When Etsy filed for its IPO, it pushed its global expansion plans. According to Bloomberg though, sales from international markets haven't moved the needle yet.

Etsy has long been the main power player in the handmade crafty goods corner, but its been joined recently by online competitors like Amazon Handmade.