Etsy's stock is having its best day in seven months after Elliott takes ‘sizable' stake

Investors bought up shares of Etsy Inc. on Thursday after the online crafts marketplace added to its board of directors a partner of hedge fund Elliott Investment Management L.P., which recently acquired a “sizable” stake in the company.Etsy said Marc Steinberg, who is responsible for public- and private-equity investments at Elliott, has been appointed to the board, effective Feb. 5, and will also join the board’s audit committee.“Etsy has a highly differentiated position in the e-commerce landscape and a ...