Crafty Follow-Up

By -

One of the freakish ironies of Slope is that some of the best ideas offered are actually long ones. As Exhibit A, I offer to you a post from 2016 called “Crafty“, so named because one of the two long ideas I was highlighting was Etsy, the online crafts company. Here’s what the stock looked like at the time, after it had broken out above $11:

Here it is now, about 600% later:

The other suggestion was Square, which was just emerging from a single-digit stock price:

And here it is today, about 800% later:

Nice as it is that these breakouts did so well, I wanted to point out that the P/E of ETSY is 116, which is a bit rich, particularly when you see how lofty the price is. The P/E of SQ, however, is not triple digits………….because there ARE no earnings. It’s basically a divided-by-zero error. In any event, congrats to anyone who held on to those bottle rockets.