Etsy stock jumps 24% following Google mention
Shares of Etsy Inc. skyrocketed more than 24% on Friday following a hat-tip by Google Inc. on the company's earnings conference call late Thursday. Google specifically named Etsy as one of the developers seeing a boost in traffic as part of Google's efforts to use indexing to help people find what they need within third-party apps. "Developers like Etsy are already seeing a boost in traffic as a result of deep linking," said Omid Kordestani, Google's chief business officer. Google said it has 50 billion links within apps indexed, and that 25% of signed-in Google searches on Android now return deep links, taking users right to content within an app or to a link so they can install it. Short interest, or bearish bets, in Etsy's stock had increased more than four-fold since the company's initial public offering, as of the end of June, the last available data on short interest. The company's shares were up 24% to $21 in recent trade.
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