Why Farfetch Stock Slid Today
Shares of Farfetch (NYSE: FTCH) pulled back Friday from their recent rally as investors reacted to positive news on the COVID-19 treatment front by selling "coronavirus stocks" like the e-commerce luxury fashion seller in favor of recovery plays.
As a result, Farfetch closed the day down by 4.5%. The Dow Jones Industrial Average rose 1.4%, outperforming the Nasdaq, which gained 0.7%, reflecting investors' bias toward cyclical stocks over tech names.
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Source Fool.com
