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Why Farfetch Jumped 16.8% in December

TheMotleyFool

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Shares of Farfetch (NYSE: FTCH) rose 16.8% in December, according to data provided by S&P Global Market Intelligence, on a rally that really began in November, after it was reported that Alibaba Group Holding (NYSE: BABA) was considering investing $300 million in the online luxury platform.

It was subsequently confirmed the Chinese e-commerce giant would be investing in Farfetch, but would be doing so with luxury goods company Richemont (OTC: CFRUY), and that the total amount would actually be over $1.1 billion.

The three companies will form a joint venture called Farfetch China.

Source Fool.com

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