Etsy shares jump on Elon Musk tweet

'I kinda love Etsy,' Elon Musk tweeted

Etsy's stock spiked Tuesday morning thanks to a tweet from Tesla CEO Elon Musk.

The business magnate offered some praise for the American e-commerce website after purchasing a hand-crafted Marvin the Martian knitted outfit for his dog. The stock climbed 5% in premarket trade after Musk's tweet.

TickerSecurityLastChangeChange %
ETSYETSY INC.197.58-11.52-5.51%

"I kinda love Etsy," Musk tweeted Tuesday morning. Moments later, the quick comment caused shares of the e-commerce site to jump during premarket trading.

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Musk, who's worth approximately $189.9 billion, according to Forbes estimates, followed up with another tweet clarifying his previous message.

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"I bought a hand knit wool Marvin the Martian helm for my dog," he wrote.

Etsy is a global marketplace founded in 2005 helping buyers find one-of-a-kind creations.

"Our search tools help buyers explore all the special one-of-a-kind items offered by Etsy sellers," its website reads. The site carries over 81 million items from over 3.7 million active sellers.

Shortly after Musk's post, his Twitter followers were eager to see what he was talking about.

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"Can we see some pics?" one user replied.

Musk obliged, posting an image of his dog wearing the getup inspired by the extraterrestrial character from Warner Brothers' Looney Tunes franchise. The character is usually seen wearing a helmet and skirt.

Within an hour, the tweets quickly received thousands of likes and hundreds of comments, including from Etsy.  

"@elonmusk we love you to Mars and back," the company wrote. 

Etsy declined FOX Business' request for additional comment.