Why Etsy, Inc. Stock Climbed 13.9% in August
Shares of online marketplace Etsy (NASDAQ: ETSY) had a nice August, rising 13.9% during the month, according to data provided by S&P Global Market Intelligence. Optimism toward the stock during the month can be mostly traced back to a single day, when Etsy reported better-than-expected second-quarter results, including a surprising profit and a 19.1% year-over-year increase in revenue.
Investors were likely also pleased with Etsy's progress on streamlining its organizational structure, as management said the efforts are expected to positively affect profitability in the remainder of the year.
Employees at Etsy's offices. Image source: Etsy.
Source: Fool.com
