Why Farfetch Is Plummeting 23% This Week
Shares of online luxury brand marketplace Farfetch (NYSE: FTCH) are tumbling 23.5% this morning from where they closed last Friday, according to data from S&P Global Market Intelligence, as the fallout from a business update it filed with the SEC to kick off December continues to take a toll on the stock.
While the numbers initially appeared encouraging, showing growth in gross merchandise value and adjusted EBITDA margins, the growth trajectory Farfetch was on has flattened dramatically, and partnerships it has undertaken aren't paying off as predicted.
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Source Fool.com
