FTCH - Why Farfetch Stock Is Crashing Today
2023-11-29 12:40:08 ET
Farfetch (NYSE: FTCH) stock is cratering in Wednesday's trading. The e-commerce specialist's share price was down 47.6% as of 10:15 a.m. ET, according to data from S&P Global Market Intelligence .
Farfetch announced after the market closed yesterday that it would be delaying the publication of its third-quarter results. In addition to the earnings delay, new reports cast doubt on the possibility that the company would be taken private . The potential for a go-private deal had previously caused a spike for the company's valuation, but subsequent reporting seems to have at least temporarily taken the air out of that balloon.
With new cause for uncertainty now injected into an already embattled stock, investors are rapidly selling out of the company's stock.
For further details see:
Why Farfetch Stock Is Crashing Today