Why Etsy Stock Was Gaining Today

Shares of Etsy (NASDAQ: ETSY) were climbing today, although there was no major news pushing the stock higher. On a flat day for the market, a number of growth stocks surged, potentially in hopes of a multitrillion-dollar stimulus package once Joe Biden becomes president, as he has already proposed. Additionally, in a blog post about Valentine's Day, Etsy reported a number of impressive growth figures around searches in the last three months. 

Since the company hasn't yet provided a holiday update, investors may be responding favorably to those search figures as they're looking for hints into holiday performance.

The stock was up 13.4% as of 11:58 a.m. EST on Tuesday.

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Source Fool.com