Farfetch Ltd [FTCH] - Last Close: $7.84
Shares of Farfetch are trending on news of a new acquisition.
The luxury fashion goods retailer has acquired a 47.5% stake in online fashion retailer YOOX NET-A-PORTER or YNAP.
Under the terms of the deal, YNAP and its parent company Richemont will adopt Farfetch's platform solutions and advanced its omnichannel delivers strategy.
In exchange for selling 47.5% of its shares, Richemont will receive as many as 58.5 million ordinary Class A shares of Farfetch under the terms of the stock-swap deal.
News of the deal is rallying FTCH to a 18.2% gain, and it's trading actively in the premarket.
My Take: This stock has seen huge losses over the past year, but maybe this is the turning point. It has a dirt-cheap P/E ratio of 2.1, and it seems to be showing strong support around the $7.50 mark.
Bird Global [BRDS] - Last Close: $0.4313
Bird Holding is surging after announcing major progress for its core business.
The short-distance micromobility stock announced Tuesday evening that it has received permits to extend its shared e-mobility programs to several major metropolitan areas.
Bird Global said it has secured extensions to its permits in San Diego and Memphis, plus Newark, NJ; Durham, NC; and Louisville, KY.
The company also says it will soon return to the Minneapolis market, and it has expansion plans for Bradenton, FL; Knoxville, TN; University of Oregon, OR; and UNC Wilmington, NC.
BRDS is trading actively with a 22.7% gain on the bullish business update.
My Take: This speculative micro-cap has been trapped below 50-cents per share for quite some time. The recent progress is good, but trading this tiny stock could be tricky. Expect volatility and set some stop-losses if you decide to jump in.
