Why Shares of Etsy Soared Higher in June
Etsy (NASDAQ: ETSY) followed up its 25% gain in May with a 31.2% rise in June, according to data provided by S&P Global Market Intelligence. The company has emerged as one of the retail winners during the COVID-19 pandemic, and Wall Street is convinced first-time shoppers are likely to make visits to Etsy a part of their regular routine.
It's too simple to say all of Etsy's recent success comes down to a single product, but without doubt face masks are a big part of the reason investors have warmed to the company of late. Etsy is an online marketplace for buying and selling handmade and vintage goods. It's been popular with some, but to date it hasn't been central to the broader e-commerce conversation in a way that Amazon.com is.
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