Why Farfetch Stock Plummeted 20% in March
Shares of Farfetch Limited (NYSE: FTCH) fell 20.6% in March, according to data provided by S&P Global Market Intelligence. As bad as that sounds, it rebounded nicely from March lows. For perspective, Farfetch stock was down nearly 43% from March 1 to March 14, dramatically underperforming the market's 5% decline during that time. But after it plunged that far in the first half of the month, analysts began to warm up to the stock, believing it now offers investors an attractive entry point.
Farfetch is based in the United Kingdom and does business in the fashion retail market. The company reported financial results for 2021 on Feb. 24, positively surprising analysts and causing the stock to spike higher. There are many parts to the business, including first-party and third-party sales on its marketplace, brick-and-mortar retail sales, and fulfillment revenue. And each showed year-over-year growth in 2021, which was encouraging.
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Source Fool.com
