Shares of Etsy got a nice charge on Tuesday after Musk paid homage to the online artisan marketplace and his dog purchase, tweeting, "I kinda love Etsy." He followed up by saying he “bought a hand knit wool Marvin the Martian helm for my dog.”
The world’s richest person didn't comment further on what else he loved about Etsy, or the company’s financial prospects.But the tweet was enough to turn investors towards Etsy, pushing its shares up more than 8.5% in premarket trading on Tuesday.
Etsy shares touched a record earlier this month as the online arts and crafts retailer continues to rein in big bucks amid the coronavirus pandemic. Shares in the New York-based company have more than quadrupled in the past 12 months.