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Tag: OSTK Stock

  • 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.

  • Is pandemic favoring the Internet Retail Sector?

    New retail data showed that e-commerce continues to be the most popular form of purchase by consumers. Those statistics triggered a rally on Wednesday for shares of e-commerce companies.

    According to a US Census Bureau report, e-commerce purchases were up 29% in November compared to the same period of the previous year. Retail Metrics analyst Ken Perkins said it represented the biggest monthly increase for e-commerce since 2010 and was the seventh consecutive month of growth exceeding 20%. Shopify Inc. has risen as much as 8.4%, while eBay has risen by 5.4%. Etsy Inc. and Amazon.com Inc. both had gains of at least 2%.

    Perkins wrote in a report that e-commerce is still “dominant in the retail landscape.” He stated that the Centers for Disease Control and Prevention’s recommendation to avoid enclosed shopping areas and the record number of deaths related to Covid-19 have “driven consumers to use contactless payments in record amounts.”

    Jumia Technologies AG (NYSE:JMIA) shares were trading up 8.27% at $39.29 at the time of writing on Wednesday. The company on December 3, 2020 declared the completion of its At The Market offering.

    Jumia Technologies AG (NYSE:JMIA) share price went from a low point around $2.15 to briefly over $40.90 in the past 52 weeks, though shares have since pulled back to $39.29. JMIA market cap has remained high, hitting $3.16B at the time of writing, giving it price-to-sales ratio of more than 10.

    If we look at the recent analyst rating JMIA, Stifel downgraded coverage on JMIA shares with a Hold rating and a $16.71 price target, which implies room for -22.58% downside momentum this year.

    Alibaba Group Holding Limited (BABA) last closed at $261.89, in a 52-week range of $169.95 to $319.32. Analysts have a consensus price target of $338.48.

    eBay Inc. (EBAY) stock soar by 3.01% to $53.65. On December 8, 2020, the company announced that it is introducing a low cost way for sellers to securely ship trading cards. The most recent rating by Piper Sandler, on September 25, 2020, is at an Overweight.

    JD.com Inc. (NASDAQ:JD) Shares headed rising, higher as much as 2.86%. The most recent rating by Barclays, on August 24, 2020, is at an Overweight.

    Vipshop Holdings Limited (NYSE:VIPS) fall -1.16% after losing more than -$0.29 on Wednesday.

    Farfetch Limited (FTCH) last closed at $60.91, in a 52-week range of $5.99 to $61.65. Analysts have a consensus price target of $54.56.

    Chewy Inc. (CHWY) stock soar by 3.28% to $94.12. The most recent rating by Piper Sandler, on November 13, 2020, is at an Overweight. The firm on December 9, 2020 released its financial results for the third quarter of fiscal year 2020 ended November 1, 2020.

    Overstock.com Inc. (NASDAQ:OSTK) Shares headed rising, higher as much as 5.09%. The company declared on December 14, 2020, that it was recently recognized in the seventh annual Loyalty360 Awards for its innovation in technology and for its employee engagement with customers and with associates throughout the company. The most recent rating by Wedbush, on September 16, 2020, is at an Outperform.

    Amazon.com Inc. (NASDAQ:AMZN) rose 2.40% after gaining more than $75.84 on Wednesday. The company today reported that it’s here to help make buying – and returning – even more stress-free and convenient as possible this holiday season.

    Etsy Inc. (ETSY) last closed at $182.34, in a 52-week range of $29.95 to $179.93. Analysts have a consensus price target of $163.29.

    Pinduoduo Inc. (PDD) stock soar by 2.42% to $145.47. On December 15, 2020, the firm reported that it was named a pioneer in digital agriculture at a major conference, with its “cloud agriculture” model recognized as one of the top 10 achievements in digital agriculture in the world. The most recent rating by Nomura, on November 16, 2020, is at a Buy.

    CarParts.com Inc. (NASDAQ:PRTS) Shares headed falling, lower as much as -4.44%. The company recently announced that CEO Lev Peker and CFO/COO David Meniane have been named silver medal winners in the Executive of the Year and Operations Executive of the Year for mid-sized companies categories in the Best in Biz Awards. The most recent rating by ROTH Capital, on September 09, 2020, is at a Buy.

    Dada Nexus Limited (NASDAQ:DADA) rose 4.02% after gaining more than $1.49 on Wednesday. DADA recently announced the launch of “Warm Winter Plan” across China to ensure delivery riders’ safety and health during the winter season.

    Mercurity Fintech Holding Inc. (MFH) last closed at $3.05, in a 52-week range of $1.00 to $5.20. The company on November 27, 2020 declared its unaudited financial results for the third quarter ended September 30, 2020.

    Qurate Retail Inc. (QRTEA) stock soar by 1.35% to $10.52. The company on November 20, 2020 declared special cash dividend of $1.50 per common share and announced commencement of share buyback program. The most recent rating by Citigroup, on December 15, 2020, is at a Neutral.