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Why Etsy Stock Surged Today

TheMotleyFool

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Shares of Etsy (NASDAQ: ETSY) climbed 11.5% on Friday after the online marketplace for handcrafted goods delivered strong fourth-quarter results.

Etsy's revenue soared 128.7% year over year to $617.4 million. Consumers and merchants are flocking to the e-commerce site. Active buyers surged 76.7%, while active sellers jumped 61.7%. That fueled a 118% increase in Etsy's gross merchandise sales -- essentially, the total amount of revenue earned by sellers -- to $3.3 billion.

"2020 was an inflection point in history for e-commerce and for Etsy, with millions of buyers choosing us for their everyday needs," CEO Josh Silverman said in a press release.

Source Fool.com

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