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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Shares of Etsy Inc (NASDAQ:ETSY) hit a new all-time high early Tuesday morning after the world's richest person tweeted he "kinda loves" the e-commerce platform.
What Happened: Tesla Inc (NASDAQ:TSLA) CEO Elon Musk, fresh off being crowned the world's richest person, said in a tweet he bought a hand-knit wool Marvin the Martian helmet for his dog.
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Musk's tweet sent Etsy's stock higher by 9% premarket Tuesday and eclipsed its prior 52-week high of $225.74.
Related Link: E-Commerce Or Brick-And-Mortar? Real Estate Leader Says Both
Why It's Important: Musk's tweet doesn't seem to be a direct endorsement of Etsy's stock itself, and it's unclear whether he loves the company, its stock or both. But investors and traders didn't seem to care and started bidding the stock higher regardless.
A check on Etsy's investor relations website shows no releases that would justify adding $1 billion to its market cap. The company isn't scheduled to report fourth-quarter results until early March.
Photo courtesy of Etsy.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.