Etsy Proving Once Again That It Is The Jägermeister of Tech Stocks - Dealbreaker

Etsy Proving Once Again That It Is The Jägermeister of Tech Stocks

Why do you guys keep doing this to yourselves?

We've all had those nights.

Some asshat shouts "Let's do some Jager shots!" and everyone demurs for a few seconds before giving in and downing a few ounces treacly, herbal liquid in quick succession, chasing it with terrible beer.

"That wasn't so bad," you think to yourself whilst stumbling home. "Why don't I have more nights like this?"

Then the morning comes, bringing with it the crushing agony that only too much sweet, high-proof liqueur can bring. "Why?" you moan to the gods, "Why did I do this to myself?!?!"

But then a few weeks later, you do it again.

Wall Street has the same problem, but it's not called Jägermeister. It's called Etsy.

Remember when Etsy IPO'ed in April and everyone went batsh!t to grab a piece of the online flea market that was so nice and good to people? Remember how it went nuts coming out the gate only to plummet like three days later? And remember how it popped again in May only to drop below its IPO price by the end of June?

Well kids, it's happening again.

Shares of Etsy Inc. rocketed as much as 37% on Friday, after Google Inc. specifically named the e-commerce company as one of the developers enjoying a boost in traffic related to new Google Inc. algorithms.

Uh oh. Come on everybody, you know how this ends. Control yourselves...

Shares of Etsy were up 30% to $21.84 in recent trade, after jumping as much as 37% to $23.10 earlier in the session, putting the company on track for its biggest one-day gain ever. “Out of left field Google gave them a compliment,” said Wedbush analyst Gil Luria.

OMG you guys, we're hearing that Google thinks Etsy is totes cute. BUY IT!!!

Someone at Etsy better send Google's new CFO Ruth Porat a truck full of Edible Arrangements.

Considering that Etsy stock is apparently incapable of moving gradually, 37% sounds about right. But that jump in trading might be ignoring the fact that Amazon has built a direct competitor to Etsy's model and will - in typical Amazon style - take on losses that would cripple anyone else just to drive Etsy out of business.

But hey, we hate to be a buzzkill on a Summer Friday. So go ahead and drink up everybody. Just remember that the market open on Monday is right around the corner.

Etsy stock jumps 24% following Google mention [MarketWatch]