Etsy Roars Back From Bursting of Pandemic Bubble With 78% Rally
- Stock has almost quadrupled from pandemic low of March 2020
- Analysts see sales speeding up, even if holidays are muted
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Etsy Inc. is proving to be something of a breakout star among e-commerce stocks in the second half of the year, as the company’s business model helps it dodge much of the inflation that has pushed up costs at online merchants such as Amazon.com Inc.
Shares of the Brooklyn-based retailer have surged 78% from their 2022 low in mid-June, far outpacing Amazon, Shopify Inc. and EBay Inc. Like most stocks in the industry, Etsy has plunged from the peak set last year, when the pandemic caused a rush into all things e-commerce, yet it’s almost quadrupled from the depths of the coronavirus outbreak in March 2020.