Farfetch Is Down 94% From Its High. Time to Buy?

Between its initial public offering in late 2018 to its peak in early 2021, Farfetch (NYSE: FTCH) saw its shares soar 158%, as investor enthusiasm reached ever-increasing levels. What goes up, must come down, however, and Farfetch's shares are down a whopping 94% as of March 24 from their all-time high of $73.75 set in February 2021. Probably the single most favorable characteristic about Farfetch is that it is a platform and marketplace business that focuses solely on luxury goods.