Etsy stock leaps toward biggest gain in 8 months, and 2-day gain of 14%

Shares of Etsy Inc. (ETSY) shot up 9.6% in midday trading Tuesday, which puts them on track for the biggest one-day gain in eight months, despite no news being released or disclosed by the online crafts marketplace. The rally comes a day after it bounced 3.7% off a six-week low. The stock, which was headed for its best one-day performance since it soared 16.1% on Nov. 10, 2022, according to Dow Jones Market Data, was trading 16.1% above the 11-month closing low of $81.05 on May 31. Etsy did not immediately respond to a request for comment. The stock has still lost 9.2% over the past three months while the Consumer Discretionary Select Sector SPDR exchange-traded fund (XLY) has run up 32.4% and the S&P 500 has advanced 15.3%.

-Tomi Kilgore

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07-11-23 1210ET

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