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Why Shopify, Etsy, and Other E-Commerce Stocks Were Up Big This Week

Danny Vena, The Motley Fool
·4-min read
Why Shopify, Etsy, and Other E-Commerce Stocks Were Up Big This Week

Shares of Shopify (NYSE: SHOP) rose as much as 15.4%, Etsy (NASDAQ: ETSY) jumped as high as 16.6%, and Coupang (NYSE: CPNG) surged as much as 27.8%, according to data provided by S&P Global Market Intelligence. There was no company-specific news pushing these stocks higher, but shares of each of these companies have cratered since late last year, so any positive news is reason enough for investors to go bargain hunting. The latest report on manufacturing, combined with the most recent jobs data, acted as a catalyst, causing investors to wade back in and buy up shares of these beaten-down e-commerce stocks.

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