All shopping is moving online — including luxury fashion — and that’s why luxury fashion e-retailer Farfetch (NYSE:FTCH) has been one of Wall Street’s favorite stocks over the past year. During that stretch, Farfetch’s stock price has risen more than 500%.
But things aren’t going so well for Farfetch stock today.
The company reported fourth-quarter numbers Thursday, after the bell. Those numbers were good and topped estimates.
But the company’s growth momentum meaningfully slowed from the third quarter, and management is guiding for this slowdown to carry into 2021.
Investors who have been bidding up FTCH stock for over a year now, weren’t too impressed. Farfetch stock dropped more than 10%.
Some consolidation here while investors process this slowdown as well as broader interest rate headwinds. Then a return to the stock’s long-term uptrend.
So, if time is on your side, you