Why Etsy Stock Jumped This Week
Etsy (NASDAQ: ETSY) investors enjoyed solid gains this week as shares rose 12% through Thursday trading. That's as compared to a 2.5% jump in the S 500, according to data provided by S&P Global Market Intelligence. Etsy shares remain in deeply negative territory for the year, though, down 22% compared to the wider market's 17% increase.
That market rally surely played a role in Etsy's boost this week, but the more direct catalyst was waning pessimism about the business on Wall Street
Etsy stock made a big move on Tuesday after it was listed by a Wall Street firm as an attractive buy at the current valuation. An analyst at Evercore included the e-commerce platform among some big names in the tech sector that could produce excellent short-term returns. The analyst cited relatively low valuations for stocks in this group, along with the potential for accelerating sales gains.
Source Fool.com
