Overstock Rises as Bitcoin Falls: Chart of the Day

Now watching

Next video starts in : 7 Play

Overstock Rises as Bitcoin Falls: Chart of the Day

Overstock Rises as Bitcoin Falls: Chart of the Day
Replay video
Up next

Warren Buffett Fans Kick Off Annual Meeting With Diamonds and Drinks

Unlock your personal NFL Now stream by signing in to NFL.com

Overstock Rises as Bitcoin Falls: Chart of the Day

by TheStreet 1:03 mins

Overstock was stocking up on losing quarters, but now the company is on a tiny tear after getting a boost last month on its revenue from Bitcoin, of all things. CEO Patrick Byrne opened his company up to Bitcoin payment earlier this year, and now it is expected to drive $8 million on the top line, and contribute to EPS. The bad news, is why Overstock is our chart of the day: the company is in the red this year, in terms of its share price, and the stock is down over 40 percent over the last 12 months. Keeping up with competitors like Amazon could be impossible, but can Bitcoin keep boosting Overstock's top line?

View Comments (1)