Why Farfetch Stock Dropped 42% in 2019
Shares of Farfetch (NYSE: FTCH) dropped 41.6% in value last year, according to data from S&P Global Market Intelligence.
It hasn't been a pleasant ride for shareholders since the company's initial public offering in 2018. On top of reporting losses on the bottom line, Farfetch made a deal to acquire New Guards Group for $675 million last year. Investors are concerned that New Guards diversifies the business unnecessarily.
On the bright side, Farfetch is continuing to take market share in the luxury goods industry, as it provides a platform for brands around the world to connect with consumers in a digital economy. Last year's dip could just as easily turn into a gain in 2020.
Source Fool.com
