Why Etsy Stock Rose 11.4% in July
Shares of online marketplace Etsy (NASDAQ: ETSY) surged 11.4% in the month of July, according to data from S&P Global Market Intelligence. Though the company itself didn't report much in the way of news, several Wall Street analysts wrote bullish notes on the niche e-commerce darling and raised their price targets.
Furthermore, as another wave of COVID-19 infections hit the southern and western U.S., investors became more enthusiastic about e-commerce stocks in general. Given that its sellers also make lots of customized face masks, Etsy benefited doubly.
Etsy benefited from July's boom in online shopping for face masks. Image source: Getty Images.
Source Fool.com
