Farfetch Limited FTCH

Fool raises accounting malpractices of the past coming to light as a probable reason for the hurried cancellation of ER. There’s also a law suit alleging Farfetch hid real extent of losses from investors.

From 72 to $0.94 Crimnal market

That's enough, too much

Sooooooooo mutch ?????????????????????????????? hard ???

The descent is too much, they stole your shares.

Now in??!!

Tomorow 1.40 ??

So hard???

I am a naive investor. What I think:

1. Those massive June 2024 PUTs gonna keep this low.
2. Russel small caps are all struggling due to high interest rates.
3. After the drop in market cap, FTCH’s debt ratio must have shot through roof.
4. Consumer discretionaries including LMVH are declining now.
5. Ftch Mgmt has 0 plans and are as clueless as the rest of us.
6. Only Nov ER can save it, but most like will be another disaster.

I’m an unfortunate investor in this. Bought it because I used their online platform and liked it. But later it became clear that Neves is not aiming to be the Amazon of luxury, but to be the next LMVH. Using investor money, he bought up absolute junk like Marcelo Bruno County or palm Angels or some pos like that as part of New Guards. The only thing worth was OffWhite which lost sheen after Virgil Abloh’s death. Then he also bought Browns, Ferragamo, Reebok… worthless, or way past prime.
The company has veered away from its original objective of connecting boutiques with customers.
FTCH was never about high end fashion. Just affordable luxury for middle class. The Average merchandise value of 500USD seems fair. You’re not gonna shell out too much money on online clothes, coz you don’t know how they gonna fit. Sizing is the main deterrent for high value transactions.