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Why is ETSY stock soaring? I don't get it. Are they doing something to get rid of crap on their site?

Edit: sorry, I meant soaring this week.

TPG invested in a pretty significant stake. They are "change-oriented" management / investors. Active.

If there's money to be made in the model, they're pretty well established as experts finding it.

I heard the investment news via David Johnson on KRLD, he's worth following.

Don't forget: If you think ETSY is going to die, then short it, for FREE MONEY. Free except the risk that you're wrong, that is. So not really free at all.

Soaring is charitable, because it's still under the IPO price, but Wall St is happy the board fired the founding CEO and CTO.

sorry to be pedantic, but Rob Kalin founded Etsy. pretty sure the departing CEO and CTO weren't founders.

it's down over 50% since the IPO.

Not actually? It's trading at $12.97 at the time of this writing. Its IPO price was $16.

You are right, I was referring to it's peak price on IPO day. It did sell it's shares for $16 in the IPO. But either way it's performance has been horrid, 3 years of a -20% is bad enough but it actually slipped to $7 at one point and has only recovered to $12.97 because the CEO got canned and a private equity firm is trying to restructure the entire business.

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