Etsy shares have plunged to an all-time low

Etsy shares tanked 7% to an all-time low on Thursday.

The stock fell to as low as $12.82, a level it hasn't reached since it started trading on April 16.

There was no immediate news on the online craft marketplace.

Since the massive 87% jump in the market debut, shares have pretty much been in free fall.

Some of the biggest drops came after analyst notes that highlighted concerns about fake goods being sold on the site.

Also, Amazon is launching a market place for craft makers that's seen as a direct competitor and threat to Etsy, which is a much smaller company.

Since the first day of trading, the stock is down 57%.

Here's a chart showing how it has traded so far:

NOW WATCH: Take a tour of the $367 million jet that will soon be called Air Force One

Please enable Javascript to watch this video