Why Farfetch Stock Dropped 12% in November
Shares of Farfetch (NYSE: FTCH) declined 12.2% last month, according to data provided by S&P Global Market Intelligence. The online luxury goods marketplace delivered third-quarter earnings that fell short of expectations. While the company is making strides to gain market share in the $300 billion luxury goods industry, consumers began to shift spending away from luxury goods last quarter, which could pressure growth in the near term.