STOCKS TELEGRAPH

Tag: OSTK

  • Overstock.com (OSTK) Stock Tumbled Even After An Insider Buying

    Overstock.com (OSTK) Stock Tumbled Even After An Insider Buying

    Overstock.com, Inc. (NASDAQ: OSTK) experienced a notable decline of 9.55% during the weekend session, ultimately concluding the trading period at a valuation of $13.93. This reduction came even after an insider buying.

    The director of Overstock.com, Lemonis Marcus, expressed his faith in the business by purchasing 40,293 OSTK shares on Friday. This transaction took place at a price of $14.79 per share, amounting to a total investment of $595,933. Following this, the director’s total OSTK shares now amount to 147,293.

    Overstock.com, currently operating as Bed Bath & Beyond, is set to undergo a significant name change. This transformation will occur on November 6, 2023, when the company will adopt the name Beyond, Inc. Alongside this corporate rebranding, OSTK will move its stock listing from the Nasdaq Global Market (NASDAQ) to the New York Stock Exchange (NYSE) and change its ticker symbol from OSTK to BYON.

    Following this name change, Beyond, Inc. will continue its furniture and home furnishings e-commerce activities under the Bed Bath & Beyond brand. On June 28, 2023, Overstock.com, Inc. acquired the Bed Bath & Beyond brand and its associated intellectual property.

    The company rebranded to Bed Bath & Beyond in Canada on June 29, 2023, with the launch of bedbathandbeyond.ca which previously was overstock.ca. Subsequently, bedbathandbeyond.com and the brand’s new mobile app were introduced in the United States on August 1, 2023.

    Presently, the new brand offers a diverse selection of top-notch, fashionable home products at competitive prices. Overstock.com, Inc. will conclude its listing on NASDAQ a close of the market on Friday, November 3, 2023. On Monday, November 6, 2023, Beyond, Inc. will begin trading on the NYSE with the BYON ticker symbol. To mark this transition, representatives of Beyond, Inc. will also ring the NYSE Opening Bell at 9:30 AM ET on that day.

    The decision to rebrand the company as Beyond, Inc. positions it favorably for a promising future, as OSTK embarks on the journey of reshaping its consumer image. This new corporate identity is expected to facilitate the company’s outreach to millions of new customers, leveraging its advantageous and distinct asset-light e-commerce business model.

  • Overstock.com Inc. (OSTK) stock Rebounds After Hours Just Before the Upcoming Earnings

    Overstock.com Inc. (OSTK) is set to declare its Q4 and fiscal 2021 financial results before the market open on February 23, 2022. Just a day before the earnings, the stock initially suffered a decline but soon rebounded in the after hours. It seems investors are not fully certain of what to do as the company is expected to report mixed earnings. OSTK is expected to report an almost 50% growth in earnings but a decline in sales.

    On February 22, OSTK stock had a value of $36.45 per share at the close of the regular trading. The stock suffered a loss of 8.21% during the session and reached its new 52-week low of $35.67. The stock rebounded in the after-hours to add 9.19% at 342.95K shares. Hence, OSTK had a value of $39.80 per share in the after-hours on Tuesday.

    The online shopping commercial sites operator, Overstock.com Inc. has a market capitalization of $1.71 billion.

    What’s with the Up and Down Movement?

    According to reports, certain analysts lowered their price target for OSTK stock. While they did lower the price target, they maintained the overweight (buy) recommendation. As always, any price cut from analysts causes the investors to worry. Thus, the stock went down during the regular session as analysts cut the price target probably due to the expected decline in sales. Consequently, the stock reached its new 52-week low during the session, closing just above it. The new low price of the stock provided a good opportunity for investors to buy the stock before it reports earnings growth. Therefore, OSTK stock rebounded in the after-hours on Tuesday.

    While the stock seems to be recovering from its losses, the upcoming earnings and opening of the market on Wednesday will clarify the actual situation. As of now, the stock has lost 22.95% in the past five days alone and 38.23% year to date.

    OSTK Company News

    On January 05, the company announced its contribution to Afghanistan refugee families resettling in Utah. The company said that it will provide the families with dining room tables, chairs, and home decors for resettling. Moreover, OSTK is working with IRC and Catholic Community Services for donating the items to the families.

    On November 29, the company participated in the Credit Suisse 25th Annual Technology Conference. OSTK’s CEO and CFO participated in investor meetings at the conference. The conference took place from November 29 to December 2, 2021, in Arizona.

  • Overstock.com (OSTK) Set to Convert its blockchain-based subsidiary to a limited partnership “Fund”

    Overstock.com (OSTK) Set to Convert its blockchain-based subsidiary to a limited partnership “Fund”

    What’s upcoming for the crypto-enthusiast firm Overstock.com following a partnership with Pelion Venture?

    Overstock.com (OSTK) shares price is pushing upwards and trading past $85 today. OSTK stock has been trading with a strong bullish momentum since the start of the new year. As we write this, OSTK shares had soared 26.47% to $85.24.

    The stock market has kicked off 2021 with much promise and seemingly the economic circumstances are going to get better with vaccine deployment. Moreover, the new era of the US government under Joe Biden is expected to help businesses with a smooth operational flow.

    In the case of Overstock, the company has just announced to spin its blockchain subsidiary into a crypto investment fund—as its driven towards the future of blockchain.

    What’s Next?

    The online technology retailer Overstock just announced that it will be converting its blockchain subsidiary, Medici Ventures, into a cryptocurrency-focused investment fund. An entity within Pelion Venture Partners will act as the general partner of the Fund.

    The core objective to initiate this Fund is to maximize profits amid the crypto boom. As we know that the crypto market is full of potential and the future belongs to the new tech. Blockchain-based Bitcoin’s recent boom in the crypto market has once again attracted investors in big numbers.

    Overstock’s Medici Ventures will become a limited partnership fund that will become operational after legal and regulatory approval. Overstock has had a keen look at blockchain and has made investments in digital technology since 2014.

    The company is highly bullish on blockchain technology. Overstock.com knows how to create the highest return for our shareholders. The CEO of the company, Jonathan Johnson stated that they are looking forward to working with a seasoned venture capital firm to manage the new crypto investment fund.

    Previously, Medici Ventures had managed Overstock’s investments in blockchain-related companies. Now, Medici will cease providing its usual services including design and software development services as well.

    The fund is anticipated to operate for 8-years, which will revolve around a capital commitment of $45 million. Initially, Overstock will receive the fund’s profit before splitting it as per the limited liability partnership. Moreover, the fund will own a “notable” minority stake in the Overstock-owned tZero Group.

    The company is also near reporting its next earnings report. Wall Street is expecting positive outcomes. Analysts have forecasted OSTK to post $0.27 earnings per share, which would mark a 136.99% rise year-over-year. While the revenue is anticipated to be $709.60 million, up by 91.33%.

    Conclusion

    Overstock.com (OSTK) has pulled a high potential deal with maximum risk—the fact that crypto is still a volatile market. But, if things go well which are as expected by the firm, then it will skyrocket the profit of Overstock.

  • 20 Stocks In Internet Retail Industry To Buy In October 2020

    20 Stocks In Internet Retail Industry To Buy In October 2020

    In today’s world, the best way to capture customers’ attention is to fulfill their needs and provide them frictionless experience. The online retail industry is flourishing continuously because now the shoppers have adopted the convenience of shopping online. Increasing trends of online shopping give the internet retail industry a hope. In the US, online retail sales are projected to grow by 18% in 2020.

    New advanced technologies have also provided the shops a way to learn about the preferences of shoppers. Augmented Reality is the major game-changer in the internet retail industry as it changed the whole concept of shopping. AR has closed the gap of ambiguity and helps retailers to provide necessary information of shoppers to improve their experience.

    Here are the 20 leading companies in the online retail industry which are also following new trends to increase the growth of their business:

    Jumia Technologies AG (NYSE:JMIA)

    Jumia Technologies AG (NYSE: JMIA) shares were trading up 4.13% at $12.87 at the time of writing on Wednesday. Jumia Technologies AG (NYSE: JMIA) share price went from a low point around $2.15 to briefly over $23.90 in the past 52 weeks, though shares have since pulled back to $12.87. JMIA market cap has remained high, hitting $1.02B at the time of writing, giving it a price-to-sales ratio of more than 5.

    Jumia Technologies AG (JMIA) has earlier launched the ‘Food Festival Campaign’. This new campaign will be scheduled to take place from the 1st to the 31st of October 2020. If we look at the recent analyst rating JMIA, Stifel downgraded coverage on JMIA shares with a Hold rating and a $12.54 price target, which implies room for -0.33% downside momentum this year.

    Alibaba Group Holding Limited (NYSE: BABA)

    Alibaba Group Holding Limited (NYSE: BABA) last closed at $301.04, in a 52-week range of $168.12 to $310.01. Analysts have a consensus price target of $314.57. Alibaba Group Holding Limited (BABA) has earlier announced that it has decided to buy a stake of up to 9.99% in Swiss duty-free Dufry. Alibaba and Dufry both have decided to collaborate to search for new opportunities in China. This company market capitalization has remained high, hitting $816.68 billion at the time of writing.

    eBay Inc. (NASDAQ: EBAY)

    eBay Inc. (NASDAQ: EBAY) fall -1.96% after losing more than -$1.13 on Wednesday. eBay Inc. (EBAY) disclosed the expansion of its Authenticity Guarantee service for sneaker sales on the platform. Through this program, all new and pre-owned collectible sneakers sold on eBay for over $100 in the U.S. will be fully vetted and verified by an independent team of industry experts.

    Amazon.com Inc. (NASDAQ: AMZN)

    Amazon.com Inc. (NASDAQ: AMZN) last closed at $3363.71, in a 52-week range of $1626.03 to $3552.25. Analysts have a consensus price target of $3726.61. Amazon.com Inc. (AMZN)  has reportedly made a deal with the National Football League to stream a wild-card playoff game this season. The information related to the team was not disclosed yet but the expectations are higher this time.

    Qurate Retail Inc. (NASDAQ: QRTEA)

    Qurate Retail Inc. (NASDAQ: QRTEA) fall -2.05% after losing more than -$0.16 on Wednesday. Qurate Retail Inc. (QRTEA) announced that it will be scheduled to discuss the results for the third quarter of 2020 on Thursday, November 5th. After the closing of the market on Wednesday, November 4th the company will post its 2020 results of quarter three.

    Etsy Inc. (NASDAQ: ETSY)

    Etsy Inc. (NASDAQ: ETSY) last closed at $149.97, in a 52-week range of $29.95 to $154.73. Analysts have a consensus price target of $153.12. Etsy Inc. (ETSY) has disclosed earlier that it is scheduled to announce the Third quarter 2020 financial results on October 28, 2020. Etsy will also host a conference call to discuss the results. If we look at its liquidity, it has a current ratio of 4.30.

    Overstock.com Inc. (NASDAQ: OSTK)

    Overstock.com Inc. (NASDAQ: OSTK) shares headed falling, lower as much as -4.13%. The most recent rating by Wedbush, on September 16, 2020, is at an Outperform. Overstock.com Inc. (OSTK) has announced that it will offer its customers 36 hours of massive markdowns on more than one million top-rated products. With an ongoing commitment to quality and value, Customer Day celebrates Overstock shoppers offering consumers 70% off on thousands of home furnishings and home improvement items.

    Wayfair Inc. (NYSE: W)

    Wayfair Inc. (NYSE: W) last closed at $293.88, in a 52-week range of $21.70 to $349.08. Analysts have a consensus price target of $309.60. Wayfair Inc. (W) has announced the schedule for the financial results of its third quarter. It is scheduled to announce the financial results of the third quarter ended on September 30, 2020.  It will also hold a conference call to review the result on November 9.

    Fiverr International Ltd. (NYSE: FVRR)

    Fiverr International Ltd. (NYSE: FVRR) shares headed falling, lower as much as -0.93%. The most recent rating by MKM Partners, on August 27, 2020, is at a Neutral. Fiverr International Ltd. (FVRR) disclosed the pricing of $400 million aggregate principal amount of 0% Convertible Senior Notes due 2025 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.

    Carvana Co. (NYSE: CVNA)

    Carvana Co. (NYSE: CVNA) last closed at $213.22, in a 52-week range of $22.16 to $242.15. Analysts have a consensus price target of $215.19. Carvana Co. (CVNA) will report its third-quarter 2020 financial results for the period ended September 30, 2020, following the close of the market on Thursday, October 29, 2020. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT).

    Baozun Inc. (NASDAQ: BZUN)

    Baozun Inc. (NASDAQ: BZUN) stock drop by -2.51% to $34.94. The most recent rating by Credit Suisse, on June 03, 2020, is at an Outperform. Scott+Scott Attorneys at Law LLP, an international shareholder, and consumer rights litigation firm, is investigating whether Baozun Inc. or certain of its officers and directors violated federal securities laws

    JD.com Inc. (NASDAQ: JD)

    JD.com Inc. (NASDAQ: JD) stock drop by -1.83% to $81.10. The most recent rating by Barclays, on August 24, 2020, is at an Overweight. JD.com Inc. (JD) share price went from a low point around $29.74 to briefly over $86.58 in the past 52 weeks, though shares have since pulled back to $81.10. JD market cap has remained high, hitting $125.19 billion at the time of writing.

    Vipshop Holdings Limited (NYSE: VIPS)

    Vipshop Holdings Limited (NYSE: VIPS) shares headed falling, lower as much as -3.32%. The most recent rating by Morgan Stanley, on September 28, 2020, is at an Underweight. Vipshop Holdings Limited (VIPS) shares have changed between the 52-weeks low and high range of $9.03 and $24.46, respectively. It has moved up 90.03% from its 52-weeks low and moved down -29.84% from its 52-weeks high. This company market capitalization has remained high, hitting $11.34 billion.

    Pinduoduo Inc. (NASDAQ: PDD)

    Pinduoduo Inc. (NASDAQ: PDD) stock drop by -2.35% to $82.66. The most recent rating by Barclays, on August 24, 2020, is at an Equal-weight. Pinduoduo Inc. (PDD) share price went from a low point around $30.20 to briefly over $98.96 in the past 52 weeks, though shares have since pulled back to $82.66. PDD market cap has remained high, hitting $91.37 Billion at the time of writing.

    Farfetch Limited (NYSE: FTCH)

    Farfetch Limited (NYSE: FTCH) shares headed rising, higher as much as 0.86%. The most recent rating by Bernstein, on September 08, 2020, is at an Mkt perform. Farfetch Limited (FTCH) shares have fluctuated between the 52-weeks low and high range of $5.99 and $31.88, respectively. It has moved up 350.25% from its 52-weeks low and moved down -15.40% from its 52-weeks high. This company market capitalization has remained high, hitting $9.19 billion.

    Chewy Inc. (NYSE: CHWY)

    Chewy Inc. (NYSE: CHWY) stock drop by -4.10% to $64.12. The most recent rating by RBC Capital Mkts, on September 11, 2020, is at an Outperform. Chewy Inc. (CHWY) share price went from a low point around $20.62 to briefly over $74.84 in the past 52 weeks, though shares have since pulled back to $62.71. CHWY market cap has remained high, hitting $25.15 Billion at the time of writing.

    Dada Nexus Limited (NASDAQ: DADA)

    Dada Nexus Limited (NASDAQ: DADA) fall -3.82% after losing more than -$1.3 on Wednesday. Dada Nexus Limited (DADA) shares have fluctuated between the 52-weeks low and high range of $14.60 and $36.14, respectively. It has moved up 127.54% from its 52-weeks low and moved down -8.07% from its 52-weeks high. This company market capitalization has remained high, hitting $6.72 billion.

    CarParts.com Inc. (NASDAQ: PRTS)

    CarParts.com Inc. (NASDAQ: PRTS) stock drop by -4.88% to $12.67. The most recent rating by ROTH Capital, on September 09, 2020, is at a Buy. CarParts.com Inc. (PRTS) share price went from a low point around $1.04 to briefly over $16.44 in the past 52 weeks, though shares have since pulled back to $12.57. PRTS market cap has remained high, hitting $598.91 Million at the time of writing.

    Revolve Group Inc. (NYSE: RVLV)

    Revolve Group Inc. (NYSE: RVLV) rose 0.16% after gaining more than $0.03 on Wednesday. Revolve Group Inc. (RVLV) shares have fluctuated between the 52-weeks low and high range of $7.17 and $24.41, respectively. It has moved up 152.58% from its 52-weeks low and moved down -25.81% from its 52-weeks high. This company market capitalization has remained high, hitting $1.31 billion.

    MercadoLibre Inc. (NASDAQ:MELI)

    MercadoLibre Inc. (NASDAQ: MELI) shares headed falling, lower as much as -2.40%. The most recent rating by Jefferies, on September 28, 2020, is at a Buy. MercadoLibre Inc. (MELI) total market capitalization has remained high, hitting $59.54 billion.