Etsy shares popped more than 32% in trading on Friday.
According to MarketWatch, shares of the online craft marketplace are surging after Google said the company is seeing higher traffic, during its earnings call on Thursday.
Omid Kordestani, Google’s chief business officer, said: “We also recently started showing such links in search results on iOS, developers like Etsy are already seeing a boost in traffic as a result of deep linking.”
Google shares rallied more than 14% after its earnings results which beat expectations.
Etsy shares are down 31% since the April 16 IPO, when the stock surged 88%. Amazon is developing a marketplace that will cater to many of Etsy’s existing merchants, called Amazon Handmade, and it’s seen as threat to Etsy’s business.
But the stock has been given a boost today, rising to as high as $US22.15 — a level it hasn’t reached since mid-May.
Here’s a chart showing the pop in shares on Friday:
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