Stitch Fix stock drops nearly 98% amid investor lawsuits
1 report, 1 independent
Updated Tue 00:00
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What happened
Katrina Lake, the founder of Stitch Fix, created a unique business model that combined data science and personal curation. The company later introduced Freestyle, a feature allowing customers to shop from a personalized feed. Investors filed a lawsuit claiming this feature shifted demand away from the core business.
From financial-news.co.uk
Why it matters
The stock value of Stitch Fix dropped nearly 98% from its peak. The company later approved a $32 million settlement for shareholders who purchased shares between mid-2020 and mid-2022.
From financial-news.co.uk
Who's involved
- Katrina LakeFounder of Stitch Fix