Etsy Hits Highest Level Of 2017

Etsy Inc ETSY shares are trading higher by $2.60 (23 percent) at $13.92 in Tuesday's session.

Investors are aggressively purchasing shares, as they appear to be encouraged by the company's comments in a recent 13D filing that "reiterates confidence in strong foundation and significant growth opportunities."

Separately, Dragoneer Investment Group reported a 3.7 percent stake in the company.

After much higher open, Etsy had only a 3-cent retreat to $12.87 before continuing its move higher. It has continued to make new highs for the session, with the current one standing at $14.11 as of 1:35 p.m. EST.

That marks the highest level for Etsy's stock since October 22, when it peaked at $14.22. If the rally continues beyond that high, there may be additional resistance at the pair of highs from October 20 ($14.55) and October 24 ($14.51).