Why Etsy's Stock Jumped 10.7% on Black Friday
Shares of online marketplace operator Etsy (NASDAQ: ETSY) closed 10.7% higher on Friday. The company didn't have any big news to share today. Instead, the stock rose on general reports of high consumer interest in the annual Black Friday shopping phenomenon.
We're in the middle of Etsy's cyberweek sales event, which runs from Nov. 23 to Dec. 2. This 10-day event is two days longer than last year's online shopping spectacle, suggesting that Etsy is leaning into this year's increased consumer focus on e-commerce options. The discounts include several million product listings and run as deep as 60% on select items.
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Source Fool.com
