Today’s Research Reports on Stocks to Watch: FarFetch and Blackstone Group
NEW YORK, NY / ACCESSWIRE / September 24, 2018 / FarFetch made its debut in the market on Friday, closing the day up a little over 42%. Blackstone Group also saw gains and hit a new high on remarks from the company’s CFO that the company will be managing $1 trillion in assets by 2026. The company’s president also said to CNBC’s David Faber that he believes the trade war with China will resolve.
RDI Initiates Coverage on:
FarFetch Ltd.
https://rdinvesting.com/news/?ticker=FTCH
The Blackstone Group L.P.
https://rdinvesting.com/news/?ticker=BX
FarFetch Ltd shares were up a little over 42% this past Friday on about 25 million shares traded. The stock hit as high as $30.60 on its opening day in the market. The London-based company has a website that helps shoppers who are searching for high end goods. It was last Wednesday that the company raised its target price range to between $17 and $19 a share from its initial target range of $15 to $17 a share. The company's CEO Jose Neves, 44, owns 14.8 percent of Farfetch, according to the company’s IPO prospectus. His stake is valued as much as $1.3 billion. "The idea of an unrivaled, inclusive, inspiring destination where the whole world of fashion would meet – creators, curators and consumers, all united for the love of fashion – was the vision that is at the heart of Farfetch today,” Neves said in a letter that was included in the prospectus. “This 10-year journey, which started in the middle of a global financial crisis, was far from easy!”
Access RDI’s FarFetch Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=FTCH
The Blackstone Group L.P. shares were up 4.53% on Friday with about 9.6 million shares traded. The stock exploded to a new high of $39.85 on trading volume that was nearly three times higher than usual. The jump came after the world's largest manager of alternative investments such as private equity and real estate, said that it could be overseeing $1 trillion in assets by 2026. Currently the firm oversees $439 billion. Blackstone's Chief Operating Officer Jon Gray said at an investor day event, "Now you may ask ... have you tapped out? Are you hitting some ceiling? The answer to that is a definitive 'no.'" The company's president, Jonathan Gray spoke with CNBC's David Faber last week in an interview and said that he believes the China and U.S. trade conflict will resolve. He remarked, "I'm still optimistic. My optimism comes from the fact it's in the parties' interest that if we stop trade and investment between these two big countries it wouldn't be good." It was this past January that Blackstone Group said it would be buying a majority stake in the Financial and Risk business of Thomson Reuters Corp, which is the parent of Reuters News. The deal is valued at $20 billion.
Access RDI’s The Blackstone Group L.P. Research Report at:
https://rdinvesting.com/news/?ticker=BX
Our Actionable Research on Farfetch Ltd. (FTCH) and The Blackstone Group L.P. (NYSE: BX) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
