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Etsy’s stock rockets close to 40% in three days

Etsy Inc. experienced the biggest three-day share gain in its history, with shares rising close to 40% in total.

The surge began Monday, as the stock of the online craft marketplace rocketed 17% after Citigroup initiated coverage on the stock with a bullish rating. Shares continued to climb Tuesday ahead of the company’s second-quarter results after the close.

Shares jumped 8.9% Wednesday, after Etsy reported better-than-expected revenue and raised its sales growth outlook.

Overall, the stock has been on an uptick recently, gaining 43% in the past month and 65% in the past three months. During the same time periods, the S&P 500 SPX, +0.31% has gained 2.9% and 4.9%, respectively.

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