Etsy is forming a troubling downtrend. The e-commerce firm announced it cut its workforce on Dec. 13. The 11% workforce cut is severe. Etsy is facing pressure to cut costs as demand for handcrafted goods declines. Shopify (SHOP), on the other hand, is up in 2023. The e-commerce platform sells a service that appeals to a wider customer base.
Related to the e-commerce sector, investors may consider Pinterest (PINS) as it breaks out. Vipshop (VIPS) is trading in a range ready to break out above $16.50.
Tesla (TSLA) bounced off its Oct. low of $200 to trade at $249.31. The two million EV recall related to a defect in the self-driving Autopilot sounds like an expensive cost. However, Tesla may easily deploy a software update over the air. This is unlike recalls from traditional automotive firms. When Ford (F) or Stellantis (STLA) issues a recall, auto owners must go to the dealership to complete the repair.
After Alphabet (GOOG) lost its case against Epic Games, shares slid by 1.35% in morning trade. The cost of missing its share of app-related revenue is in the billions. Still, the outcome of the case is many years away. Last year, Apple (AAPL) won its case against Epic. AAPL stock will likely break out to its $200, unfazed by the Epic Games risk.
