I have two of these stems.  Likely cordial or liquor as they are pretty tiny.  The shape of the etch around the top has been produced by a variety of companies – Heisey, Baccarat, Libbey, Fostoria, etc. – and is called Greek Key.  The “arrows” beneath look Art Deco-ish (if that’s a real word).  I’ve not seen this pattern elsewhere.  The glass has a bright ring to it.