Today’s Research Reports on Stocks to Watch: Sears and OverStock.com
NEW YORK, NY / ACCESSWIRE / December 1, 2017 / Overstock.com saw its shares collapse on Thursday after roughly almost four months of gains for the stock with a rally that has produced over 300% in gains. Shares of Sears also saw a big loss yesterday after the company released its third-quarter results that showed the retailer is still struggling very badly.
RDI Initiates Coverage on:
Overstock.com, Inc.
http://www.rdinvesting.com/report/?ticker=OSTK
Sears Holdings Corporation
http://www.rdinvesting.com/report/?ticker=SHLD
Overstock.com, Inc. shares closed down nearly 10% on Thursday with almost 6.6 million shares traded. Though there was no remarkable news from the company yesterday, shares may have dropped as a result of bitcoin plunging. Bitcoin recently soared to a new record high of over $11,000 this week and then quickly plummeted 20% after. OverStock revealed not too long ago that it was planning to accept all cryptocurrencies on its platform and that it was also planning to open up a crypto exchange. It may also have been profit taking yesterday as the rally that has been occurring since the end of July may have hit their peak this week. Shares have seen gains of over 300% from the end of July until this Monday.
Access RDI's Overstock.com, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=OSTK
Sears Holdings Corporation shares closed down 3.09% on Thursday with almost 8.3 million shares traded. Shares soared yesterday to as high as $5.40, representing a gain of almost 30% before pulling back. The struggling retailer released its third quarter fiscal financial results that showed a continued collapse in sales. The company posted a loss of $558 million for the quarter which was about $200 million narrower than it was a year ago. This may have sparked some investor optimism but in the end traders were seeing how catastrophic the numbers really were. Comparable sales saw a drop of 17% at Sears stores and a 13% drop at Kmart stores. This was the 24th straight quarter of comparable sales falling. According to Neil Saunders who is the Managing Director of GlobalData Retail, "Ultimately, we still believe that Sears is a dying business. Whichever way you cut them, the fundamental economics of the business do not add up." Trading volume was significant yesterday compared to usual.
Access RDI's Sears Holdings Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=SHLD
Our Actionable Research on Overstock.com, Inc. (NASDAQ: OSTK) and Sears Holdings Corporation (NASDAQ: SHLD) can be downloaded free of charge at Research Driven Investing.
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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
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SOURCE: RDInvesting.com
