Shares of Etsy rose 3.5% Thursday after the company announced the launch of the beta version of its manufacturing platform, and a day after the company posted its lowest ever closing price. Etsy previously announced it would be expanding the use of outside manufacturing, and this platform will be a marketplace for designers to connect with manufacturers. Shares of Etsy have fallen 40% in the past three months and 27% in the past month, compared to the S&P 500’s drop of 3% and gain of 5% respectively. Etsy’s stock had a closing price of $10.68 Wednesday.
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