|Day's range||2.4200 - 2.4200|
Like some other e-commerce stocks, Farfetch (NYSE: FTCH) soared during the pandemic before crashing over the last two years as the growth story for the e-commerce luxury fashion company seems to have fallen apart. Due to the war in Ukraine, it pulled out of Russia, where 6% of its gross merchandise value (GMV) came from, and the company has struggled in China, its second-biggest market, due to COVID-19 lockdowns. The company has a unique business model that includes an e-commerce marketplace, wholly owned fashion businesses, and a Shopify-like service, Farfetch Platform Services (FPS), which handles the e-commerce side of the business for luxury brands.
Here's why three Motley Fool contributors believe Shopify (NYSE: SHOP), Amazon (NASDAQ: AMZN), and Farfetch (NYSE: FTCH) are no-brainer buys right now. John Ballard (Shopify): Shopify stock crashed with the market sell-off last year, but e-commerce isn't going anywhere. In fact, while the stock was tumbling, Shopify was still growing.
Plenty of issues remain, but this stock could pop higher if the company starts to fix some of those issues.