Why Sea Limited, Etsy, and Wayfair Stocks All Rocketed Higher Thursday
If there's one issue that has characterized 2022, it's no doubt runaway inflation. Many had hoped that the latest government data would show inflationary pressures starting to ease. When the report dropped Thursday morning, it was exactly what investors had hoped for, sparking a broad market rally.
With that as a backdrop, shares of e-commerce stocks surged. Sea Limited (NYSE: SE) popped 10.9%, Etsy (NASDAQ: ETSY) soared 15%, and Wayfair (NYSE: W) rocketed 28.1% higher as of 3:38 p.m. ET.
Despite my thorough review of all the usual sources -- regulatory filings, earnings, company websites, etc. -- there was no company-specific news to support the runaway stocks. This suggests that the rally was driven by the positive read on inflation that suggested that the Federal Reserve Bank's campaign of rising interest rates might be bearing fruit.
Source Fool.com
