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Etsy jumps after Musk tweet: “I kinda love Etsy”

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Etsy shares jumped more than 6% in early trading on Tuesday after Tesla CEO Elon Musk tweeted about the e-commerce site, adding that he “bought a hand knit wool Marvin the Martian helm” for his dog.

Video Transcript

JULIE HYMAN: A lot of interesting movers here this morning. And as we go to break, I just want to bring you one more of them.

[COUGH]

Excuse me. It's Etsy. Etsy shares are up 6% now. Etsy's already been a high flyer, right? The stock has rebounded in the multiple hundreds of percent since its low last year, as we have seen a lot of people buy a lot of stuff on Etsy, including masks. Well, somebody else who's apparently buying stuff on Etsy is Elon Musk. He tweeted about it this morning. He said, I kind of love Etsy, in a tweet. And he said he had bought a Marvin the Martian hat for his dog, a wool hat for his dog on Etsy. That was enough to send those Etsy shares higher this morning, which is pretty typical of the action that we've seen recently.