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Etsy Sellers to Go on Strike

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — The Verge reports that there are thousands of people living in poverty. Etsy Inc (NASDAQ: ) On April 11, sellers will go on strike 

This strike comes after Etsy CEO Josh Silverman revealed in February that Etsy sales had hit an all time high. However, transaction fees will rise from 5% up to 6.5% starting April 11.

According to reports, thousands of Etsy sellers will put their shop on vacation and suspend sales for over one week as protest against increased transaction fees.

According to The Verge, Etsy sellers also asked Etsy customers not to buy during this period. This is in support of the campaign which received over 15,000 signatures within a week and more than 5,000 sellers agreeing that they will strike. 

Etsy shares plunged as high as 4 percent Wednesday. The company’s shares fell as much as 4% Wednesday after it was downgraded from Buy to Hold by Loop Capital.

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