Why Farfetch Stock Is Soaring Today
(NYSE: FTCH) stock is seeing big gains in Wednesday's trading. The company's share price was up 14.3% as of 2:15 p.m. ET, according to data from S&P Global Market Intelligence.
Farfetch stock is rebounding today following news that the struggling company could be on track to secure new sources of outside funding. Sky News published a report today announcing it had learned that Apollo Management could be interested in investing in the beaten-down e-commerce specialist. Sky News also said that other parties are potentially looking at providing funding for Farfetch.
Today's gains for Farfetch stock come on the heels of a massive crash at the beginning of the week following news that Moody's had downgraded the company's credit rating.
Source Fool.com
