Why Farfetch Stock Dived by Almost 8% Today
Luxury-goods retail-platform operator Farfetch Limited (NYSE: FTCH) had quite the Memorial Day hangover on Tuesday, with its stock tumbling by almost 8%. Farfetch and Neiman Marcus Group -- the owner of the storied Neiman Marcus chain of high-end department stores -- announced that the former is making an equity investment in the latter. The two companies didn't specify what percentage of Neiman Marcus Group's equity this constitutes.