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What’s Happening With Farfetch Stock Today? Farfetch In the Crosshairs: Coupang’s Acquisition Intention Halts Stock Trading

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Farfetch Ltd FTCH shares were halted Monday morning and were trading lower after Coupang Inc CPNG revealed its intention to acquire the company.

Coupang says their acquisition of Farfetch positions them as a significant player in the $400 billion luxury goods market by combining Coupang’s operational strength with Farfetch’s luxury expertise.

The move also grants Farfetch access to $500 million in capital, fostering technological advancements and broader market expansion.

See Also: S&P 500 Likely To β€˜Test The 5,000 Level’: JP Morgan On Where To Allocate In 2024

Farfetch shares in late November saw volatility after the company said it would not announce third-quarter results.

The company at the time said they were refraining from providing forecasts or guidance, cautioning against relying on previously given estimates.

According to data from Benzinga Pro, FTCH has a 52-week high of $8.02 and a 52-week low of $0.53.

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