Etsy Stock Has Tripled Since March -- How Much Higher Can It Go?
April changed the conversation around Etsy (NASDAQ: ETSY), the third-party e-commerce site that had largely trended down throughout 2019 as analysts questioned whether it could find any growth catalysts. The moment came when the federal government reversed course and said people should, in fact, wear face masks when out in public to help slow the spread of COVID-19.
Dr. Anthony Fauci, the infectious disease specialist who serves as President Trump's point man on the coronavirus pandemic, recently confirmed that the government did not initially recommend mask-wearing for the general public due to shortages of masks at the time. He wanted to ensure frontline healthcare workers had sufficient supply available.
The effect for Etsy was almost immediate, as CEO Josh Silverman told Fortune -- traffic to the site spiked with people specifically searching for "face mask." At one point, searches for the term at one point hit nine per second.
Source Fool.com