Farfetch’s share price has fallen so low in recent months, some investors are betting that the world’s No.1 online fashion marketplace could be snapped up by a hungry investor. That could be a private equity firm, a big online player or a luxury group with deep pockets such as LVMH. Farfetch’s share price reached a high of $73 in Feb. 2021 and then fell off a cliff. Last year, it lingered at around $10-$15 before plunging further after the company’s capital markets day on Dec. 1. On Friday, the shares closed at $4.42.
Today, Farfetch is worth less than $1.8 billion, which is way below the $6.2 billion valuation it reached after floating in New York in 2018 at $20 a share. The London-based company has been penalized by a sell-off in technology stocks but also by investors’ loss of faith in its ability to generate significant profits in the future.
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