Etsy biggest beneficiary from Temu U.S. pullback, says Wells Fargo

Wells Fargo sees Etsy as the most meaningful beneficiary from press reports indicating Temu is shifting its focus away from U.S. growth amid regulatory headwinds. Temu de-emphasizing U.S. growth is likely a tailwind for Etsy, the analyst tells investors in a research note. The firm believes Etsy was facing the most significant headwind from Temu in its coverage.