New Zealand markets close in 41 minutes
  • NZX 50

    12,178.16
    -33.80 (-0.28%)
     
  • NZD/USD

    0.6337
    +0.0028 (+0.45%)
     
  • NZD/EUR

    0.5905
    +0.0022 (+0.38%)
     
  • ALL ORDS

    7,706.30
    -34.20 (-0.44%)
     
  • ASX 200

    7,499.70
    -30.40 (-0.40%)
     
  • OIL

    78.42
    -0.05 (-0.06%)
     
  • GOLD

    1,890.50
    -0.20 (-0.01%)
     
  • NASDAQ

    12,495.38
    -232.90 (-1.83%)
     
  • FTSE

    7,885.17
    +20.46 (+0.26%)
     
  • Dow Jones

    33,949.01
    -207.68 (-0.61%)
     
  • DAX

    15,412.05
    +91.17 (+0.60%)
     
  • Hang Seng

    21,374.34
    +90.82 (+0.43%)
     
  • NIKKEI 225

    27,479.86
    -126.60 (-0.46%)
     
  • NZD/JPY

    83.2680
    +0.4800 (+0.58%)
     

Why Farfetch Is Plunging Hard Today

Why Farfetch Is Plunging Hard Today

Shares of Farfetch (NYSE: FTCH) were plunging 23.6% in afternoon trading on Thursday after the online luxury fashion marketplace filed a business update with the Securities & Exchange Commission. Farfetch said it will host a Capital Markets Day with financial analysts and institutional investors today that will discuss in greater depth the company's strategic growth plan. On the surface, the guidance Farfetch shared wouldn't seem to warrant the collapse in its share price.