RENT - Farfetch stock surges on elevated volume
2023-06-09 11:59:49 ET
Luxury e-commerce retailer Farfetch ( NYSE: FTCH ) flew to a double-digit gain during Friday’s trading as trading volume exceeded the daily average.
Shares of the British luxury goods seller ripped to as much as a 15% gain during Friday session as trading volume eclipsed the daily average about 2.5 hours into the day’s trading. Short interest in Farfetch ( FTCH ) stands at 8.22%, according to Seeking Alpha data.
The day’s trend contrasted sharply with declines for US-based competitor The RealReal ( REAL ) -7.35% and fashion rental company Rent the Runway ( RENT ) -7.36% .
Shares of Farfetch ( FTCH ) have now risen over 40% in the past month after a strong earnings result in mid-May , pushing to an over 30% gain year to date.
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Farfetch stock surges on elevated volume