Why Shopify, Etsy, and Other E-Commerce Stocks Were Up Big This Week
A broad cross section of stocks rallied so far this week, recovering from last month's drubbing and buoyed by a manufacturing report and jobs data that suggest the worst might be over. Then again, it might not.
With that as a backdrop, a number of digital-retail stocks far outpaced gains by the broader market indexes this week. Shares of Shopify (NYSE: SHOP) rose as much as 15.4%, Etsy (NASDAQ: ETSY) jumped as high as 16.6%, and Coupang (NYSE: CPNG) surged as much as 27.8%, according to data provided by S&P Global Market Intelligence.
When the market closed on Thursday, the trio were still trading higher for the week, gaining 11.6%, 15%, and 26.2%, respectively. These stocks followed the broader market bounce, as the S&P 500 and the Nasdaq Composite gained 2.9% and 3.1%, respectively, so far this week.
Source Fool.com
