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Why Farfetch Stock Slid Today

TheMotleyFool

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Shares of Farfetch (NYSE: FTCH) pulled back Friday from their recent rally as investors reacted to positive news on the COVID-19 treatment front by selling "coronavirus stocks" like the e-commerce luxury fashion seller in favor of recovery plays.

As a result, Farfetch closed the day down by 4.5%. The Dow Jones Industrial Average rose 1.4%, outperforming the Nasdaq, which gained 0.7%, reflecting investors' bias toward cyclical stocks over tech names.

Image source: Getty Images.

Source Fool.com

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