Shares of Etsy Inc (ETSY) are trading -7% lower at a price of $90.18 at the time of this writing.

The company announced that they are closing satellite offices in Hudson, NY and San Francisco, CA. Investors perceive this is a sign that management is reacting to a slowing business. 

Etsy Inc has been trading between a 52-week high of $307.75 and a 52-week low of $67.01. The stock has a market cap of $11.5 Billion.

Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods.

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As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

External-Outcome7579 - 4 upvotes - source
That fake pump last week that sent Etsy to the high $90s was gift. Puts printing. Patience pays.

External-Outcome7579 - 3 upvotes - source
Put it all on 08/19 $18 lucid puts. Maybe do 08/05 if you want them cheaper. That shit is going to tank hard after earnings. Etsy another good bet too.

whiskytangofoxtrot08 - 3 upvotes - source
who the fuck is playing etsy? sympathy play?

spudbro00 - 2 upvotes - source
Etsy up 30% in 3 weeks and didn’t get destroyed on snap earnings like pins, Meta, google or Shopify. Earnings 07/27 and 90 puts looking real juicy. Just wish there was more volume

FemaleEcho - 2 upvotes - source
Next up puts on Etsy

Godfather751 - 1 upvotes - source
ok, I want to play ETSY, I think they will miss earnings, Puts are dangerous due to IV crush. ​ is it a good idea to just short the stock? or will the stock make a huge outsized move to the downside that IV crush won't matter?

OptionGamble - 1 upvotes - source
I know nothing about lucid, but I like the Etsy play

dizzy_centrifuge - 1 upvotes - source
Holding SHOP AMZN META ETSY SPOT puts a few of these will print bigly today

I_am_not_a_murderer - 1 upvotes - source
no clue why ETSY decided to drop AH, but I like it

andymill20 - 1 upvotes - source
He has to make up for his ETSY losses somehow