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Actionable news in ETSY: Etsy Inc,

Continue Avoiding Etsy

Since suggesting that investors sell Etsy (NASDAQ:ETSY) on May 25, 2015, the stock rallied briefly but continued its descent. Ongoing concerns for too many sellers offering counterfeit and copyright-infringing goods were enough for Wedbush to set a $9 target price for Etsy. Conversely, Zacks upgraded the stock to a "hold." As I will argue, investors should continue avoiding Etsy stock.

Etsy expanded a Craft Entrepreneurship program in June. Seasoned sellers on Etsy share their selling experiences on the site. Etsy is helping over 550 people with selling their craft. The program will reach five new cities, for a total of 19 cities participating.

By following the crowdsourcing model like Kickstarter, Etsy will introduce buyers to sellers earlier in the phase of the seller's product development. The pilot project is running in the U.S...