SPECIAL REPORT The Top 7 Stocks for 2024

Why Is Farfetch (FTCH) Stock Down 50% Today?


  • Farfetch (FTCH) stock is falling hard on Wednesday after a recent rally.
  • This comes amid a delayed earnings report and comments from a lender.
  • The company may also be in talks to go private.
FTCH Stock - Why Is Farfetch (FTCH) Stock Down 50% Today?

Source: nikkimeel / Shutterstock.com

Farfetch (NYSE:FTCH) stock is on a wild ride recently that has shares of the luxury fashion company falling hard on Wednesday after rallying yesterday.

The beating that FTCH stock is taking today comes after the company announced that it has to delay its latest earnings report. Instead, the firm says it will provide investors with a “market update” in the future discussing this decision.

To go along with that, Farfetch investor Richemont has made it clear that they have no intention of lending any further funds to the business. All of this comes amid recent talks about a deal to take the company private.

Will FTCH Stock Go Private?

Reports yesterday claimed that Farfetch founder Jose Neves is seeking to take the company private. The founder has reportedly been in discussions with banks and lenders about such a deal.

Investors will note that the initial reports of that deal sent shares of FTCH stock soaring higher on Tuesday. That saw the company’s shares close up by more than 20%!

All of this news brings with it volatility to FTCH stock. That has the company shares down 49.5% on Wednesday afternoon with some 90 million units changing hands. For the record, its daily average trading volume is well below that at around 12.7 million shares.

Investors who are seeking out even more of the most recent stock market stories will want to stick around!

InvestorPlace is home to all of the hottest stock market news that traders need to know about on Wednesday! A few examples of that include what’s happening with shares of Vivos Therapeutics (NASDAQ:VVOS) and BioVie (NASDAQ:BIVI) stock, as well as other market happenings. All of that news is available below!

More Wednesday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/11/why-is-farfetch-ftch-stock-down-50-today/.

©2024 InvestorPlace Media, LLC