Why Farfetch Stock Was Surging Today

Shares of Farfetch (NYSE: FTCH) were moving higher today after the luxury fashion e-commerce marketplace posted better-than-expected results in its first-quarter earnings report, showing the stock is starting to make a recovery after crashing during much of 2021 and 2022. After a surge in demand during the pandemic, Farfetch's growth slowed significantly last year. Gross merchandise value (GMV), or the total value of goods sold on the platform, was up just 0.1%, or 4% in constant-currency terms, to $931.7 million.