The Farfetch valuation I indicated above was before the last 2 days correction. Looking at their 2022 annual report, there are 394 million shares which corresponds to a market cap of 248 m USD or around 380 m AUD (= 36 % of Cettire's market cap).
Unlike Cettire (net cash), Farfetch has a serious problem of debt : at 30/6/23, it had a net financial debt of 463 m USD, including 454 m USD of cash. This level of cash could be rapidly exhausted, as the company still has a large negative cash flow from operation and used 280 m USD of cash during the last reported quarter. It may explain why Farfetch has not yet reported its Q3 results.
CTT Price at posting:
$2.74 Sentiment: None Disclosure: Not Held
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