Why Etsy Stock Was Up on Monday
Etsy (NASDAQ: ETSY) shareholders beat a rising market on Monday, with the stock jumping 5% by 3 p.m. ET, compared to a 2.6% surge in the S&P 500. That boost only erased a small portion of recent losses for owners of the e-commerce platform though, which remains down by over 50% so far in 2022, compared to the wider market's 23% decline.
That prior stock-price slump was the biggest factor behind Etsy's rally on Monday as investors became less pessimistic about its short-term growth prospects.
Monday's rally was a sharp reversal of the bearish trend that has brought most of the market down in 2022. Etsy's shares have been hit especially hard during the down days as investors started worrying about a recession on the way.
Source Fool.com
