Etsy’s (ETSY) recent IPO has disappointed, but the stock soared Friday after Google (GOOGL) cited the online marketplace for handcrafted and vintage goods as one of the sites benefiting from its latest search algorithm tweaks. Etsy stock was up 24% in afternoon trading in the stock market today, near 21, and had been up as much as 36% earlier, at a two-month high. Meanwhile, Google stock was up 16% Friday afternoon, near 696, after it reported
Recent IPO Etsy (ETSY) fell short of analysts’ topline and bottom line expectations in its first report since going public last month and said it plans to boost spending. The online marketplace for handcrafted and vintage goods lost 12 cents per share in Q1, excluding items, far below Wall Street estimates for a per-share profit of 3 cents. Etsy recorded a $10.5 million increase to its tax provision and a $20.9 million in currency exchange loss
A week ahead of its first-ever earnings report as a public company, Etsy (ETSY) stock is tumbling on concerns over Michael Kors (KORS) purses and other items that are counterfeit or pose copyright issues. Etsy brands itself as an online marketplace for unique goods, and its folksy appeal has made it a go-to site for homemade crafts and vintage items. But the company may have counterfeit and infringement problems that eclipse those of other