Why Farfetch Stock Jumped 94% Last Month
Shares of Farfetch (NYSE: FTCH), the online luxury fashion platform, were soaring last month after the company signed a partnership with Alibaba (NYSE: BABA) and posted strong third-quarter results. Farfetch shares surged to kick off the month, jumping 14% on Nov. 2 as news broke that the company was in advanced talks to partner with Alibaba. Farfetch said that Alibaba, the world's biggest e-commerce marketplace, and Richemont, the Swiss luxury goods seller and parent of Cartier and Net-a-Porter, would each invest $300 million in the company.
