Benzinga | Nov 13, 2020 11:23AM EST

Why Farfetch's Stock Is Trading Higher Today

Farfetch (NYSE:FTCH) shares are trading higher on Friday after the company reported better-than-expected third-quarter EPS and sales results.

Farfetch is an online platform connecting sellers and buyers of personal luxury goods. It was founded in 2008. The company partners with around 1,000 luxury goods sellers to offer their inventory on the platform. For making the retailers' stock available to almost a million active customers, the company charges a cut of over 30% (third-party take rate).

Farfetch shares traded up 8.23% at $46.80 on Friday during the time of publication. The stock has a 52-week high of $50.36 and a 52-week low of $5.99.