|Bid||13.80 x 800|
|Ask||14.70 x 3000|
|Day's Range||13.85 - 14.61|
|52 Week Range||12.33 - 80.40|
|Beta (3Y Monthly)||2.60|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 13, 2019 - Mar 18, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||66.50|
Overstock CEO Patrick Byrne said the company was “ready to hit the button and go live” on Friday with security token trading, but is waiting another few days to process user signups before going live, according to CoinDesk. The launch of security token trading is a key step in Overstock’s pivot from e-commerce to blockchain technology. Overstock’s Medici Ventures portfolio contains at least 10 blockchain technology investments, including a tZERO blockchain-powered investment bank.
Dr. Patrick M. Byrne, CEO and founder of Overstock.com, Inc. (OSTK), shared his vision of how blockchain technology will allow for the building of a “tech stack for civilization” in a keynote speech at the recent North American Bitcoin Conference in Miami. Additionally, Byrne, who is also the executive chairman of tZERO, the global leader in blockchain innovation for capital markets, discussed the patented technological architecture of tZERO’s blockchain-based securities trading platform while commenting on the status and timing of the platform’s launch. In 2014, Overstock founded Medici Ventures, its wholly-owned subsidiary focused on applying blockchain technologies to existing industries to eliminate middlemen, democratize capital, and rehumanize commerce.
A little more hope for progress on the trade war front inspired another round of buying on Friday. Despite the three-day weekend ahead of them, the bulls were willing to plow in, driving the S&P 500 up 1.32% to the highest close in over a month. Winners were plentiful, though the biggest and best gains came from companies that didn't necessarily move the whole market. Overstock.com (NASDAQ:OSTK) was up more than 11%, mostly in response to news that its crypto-trading platform would launch next week. Square (NYSE:SQ) gained almost 5% after announcing on Thursday it would be offering debit cards to small businesses. Friday's marketwide gain too shape despite Tesla (NASDAQ:TSLA) acting as a drag. Shares of the electric vehicle manufacturer were off to the tune of 13% after the company announced it was laying people off, and after CEO Elon Musk cautioned that near-term profits wouldn't be as robust as recently suggested. InvestorPlace - Stock Market News, Stock Advice & Trading Tips None of those names are worth looking at today, due to their sheer volatility. Rather, stock charts of Intel (NASDAQ:INTC), eBay (NASDAQ:EBAY) and Fiserv (NASDAQ:FISV) merit closer looks because their tamer action has allowed trends to start taking shape. ### Intel (INTC) It was way back on Dec. 3 that Intel hinted at a break above a major horizontal ceiling. The move that day wasn't meant to last, however. Too strong to sustain and with a gap left behind in the process, that day's doji ended up being a pivot back into a downtrend. The doji in question is marked with a yellow arrow on the daily chart. * 7 Retail Stocks to Buy for the Rise of Menswear The line in the sand never stopped mattering, however … or lines in the sand, now. The recent bounce is once again testing that resistance, and while INTC shares aren't back above either, they're close to breaking back above both and kick-starting a sustained gain. Click to Enlarge • One of the lines in question is around $49.40, plotted with a blue dashed line on both stock charts. With the exception of the singularity on Dec. 3, Intel hasn't been able to trade above that level. • Also coming back into play now is the white 200-day moving average line, currently at $49.44. Traders are afraid to push their luck there now, and it only took a kiss of that line on October to send Intel into a dive. • Friday's high-volume move is telling. Most stocks only saw tepid pre-weekend buying interest on Friday. ### eBay (EBAY) Very early this year we noted eBay shares were coming out of a funk and looking to move into a new uptrend. The clues were only tentative at the time, but still worth watching. Much has changed in the meantime. Namely, the big technical ceiling that were still a factor then have since been left in the rearview mirror, and another resistance level that looked like it could have been a problem has also been hurdled. A good start to this week's action could seal the deal on what could be a huge rebound effort. Click to Enlarge • The previous problem area was a combination of the blue 20-day and purple 50-day moving average lines. Those ceilings were cleared back on the 3rd, and though the gray 100-day moving average line caused a stall last week, the bulls punched through on Friday. • This is all part of a much bigger breakout effort illustrated on the weekly chart. The line that had guided EBAY lower over the course of the latter half of 2018 stopped doing so three weeks ago. • The bears are likely to push back from here. Keep in mind breakout thrusts are often born out of a process rather than a single-day event. ### Fiserv (FISV) It was only last Thursday we suggested Fiserv was a buying opportunity, despite the previous day's drastic loss on the heels of news that it was aiming to acquire First Data (NYSE:FDC). Too many hints suggested the sellers overshot their target, ceding all control back to the buyers. Things panned out exactly as suspected. FISV followed through on Wednesday's pivot on Thursday, and the buyers dug in again on Friday. But, that pendulum may have swung back as far as it was going to. From here, the buyers are apt to take at least a short break. Click to Enlarge• Though an impressive move, Friday's advance was suspiciously stopped exactly where one would expect -- at the 100-day moving average line, plotted in gray. The bears drew a line in the sand there, and will likely stick with it this week. • Underscoring the idea that Fiserv will need to pull back first before continuing to move higher again is the distinct lack of buying volume seen since then. • The most plausible outcome from here is a dip back between the moving average lines around $78 and $73, a regrouping, and a renewed rally effort that takes shape at a more sustainable pace. As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter, at @jbrumley. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Companies Apple Should Consider Buying * 7 Beaten-Up Housing Stocks Due for a Bounce Back * Take Buffett's Advice: 5 Vanguard Funds to Buy Compare Brokers The post 3 Big Stock Charts for Tuesday: Intel, eBay and Fiserv appeared first on InvestorPlace.
In 1999 Patrick Byrne was appointed CEO of Overstock.com, Inc. (NASDAQ:OSTK). This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. Read More...
Buffett and Munger Called the Pop of the Bitcoin Bubble ## Bitcoin Cryptocurrencies have been one of the most talked-about subjects among investors in the last couple of years. Until the end of 2017, all looked well with the world’s largest cryptocurrency, bitcoin, as it surged nearly 1,340% that year. It was the third consecutive year that bitcoin yielded a solid positive return, which caught the attention of even those investors who previously used to call it worthless. Last year, billionaire investors Warren Buffett and Charlie Munger warned about the cryptocurrencies (GBTC) bubble, which seems to have been bursting lately. Let’s take a closer look. ## Buffett and Munger on bitcoin bubble During a CNBC interview about a year ago, Berkshire Hathaway chair and CEO Buffett said, “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending, when it happens or how or anything else, I don’t know.” He showed his confidence in his opinion by adding, “If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it, but I would never short a dime’s worth.” Later in May 2018, Buffett’s long-time friend and Berkshire’s vice chair, Charlie Munger, went a step further. Munger called bitcoin “worthless, artificial gold.” He added, “that is not something I think the world needs.” ## And they were right After yielding solid returns in 2017, bitcoin tanked over 73% in 2018. On Tuesday, it was trading below $4,000 with nearly 10% losses for the session. In the last few years, many chipmakers (SPY) like Advanced Micro Devices (AMD), NVIDIA (NVDA), and Intel (INTC) have invested in chips used for cryptocurrency mining. In the fourth quarter of 2018, AMD, NVDA, and INTC lost 40.2%, 52.5%, and 0.8%, respectively. During the same period, other US stocks such as Microsoft (MSFT), Overstock (OSTK), PayPal (PYPL), Square (SQ), Visa (V), Apple (AAPL), and Goldman Sachs (GS) also fell 11.2%, 51.0%, 4.3%, 43.3%, 12.1%, 30.1%, and 25.5%, respectively.
Can Etsy’s Good Run Continue in 2019? ## Goldman Sachs raises Etsy to “buy.” On January 4, Etsy (ETSY) stock surged ~8.0% and closed trading at $49.70 as Goldman Sachs revised its rating on the stock to “buy” from “neutral.” Also on January 4, overall markets were on the rise—mainly due to robust US jobs data for December. Both the S&P 500 and Dow Jones were up 3.4% and 3.3%, respectively, on January 4. Etsy stock has had a remarkable 2018 with the stock surging as much as 132.6% in 2018. In January so far, the stock has risen 4.5%. The strong financial performance and its formidable position in the online handicrafts market are driving its stock price. Etsy’s top-line growth is being driven by strategic measures (including cost cuts and a focus on the mobile platform) and its recent increases in seller fees. These strategic efforts are pushing the company in the right direction, causing analysts to be bullish on Etsy. About 67.0% of the 12 analysts covering Etsy stock have given it “buy” ratings as of January 4. The remaining 33% have given it “hold” ratings. Etsy’s mean target price is $56.83, which indicates a potential 14.4% upside, given its price on January 4. ## What’s Wall Street saying about Etsy’s peers? In comparison, for Overstock (OSTK), all three analysts covering the stock have provided “buy” recommendations. Overstock’s mean target price is $66.50, which indicates a potential 366.3% upside to its stock price on January 4. For Wayfair (W) 38.0% of the 24 analysts covering the stock have given it “buy” recommendations. Another 58.0% of analysts have given it “hold” ratings. Wayfair’s mean target price is $117.20, which indicates a potential 30.1% upside. Among Etsy’s larger peers, for Amazon (AMZN), 94.0% of the 47 analysts covering the stock gave it a “buy” rating. Just 4.0% of analysts have given it “hold” ratings. Amazon’s mean target price is $2,130.20, which indicates a potential 35.2% potential upside. Continue to Next Part Browse this series on Market Realist: * Part 2 - Will Etsy’s Strategic Efforts Keep Driving Its Top Line in 2019? * Part 3 - Comparing Etsy’s PE with Its Peers’
Online retailer Overstock.com (NASDAQ:OSTK) announced that it will pay a portion of its Ohio state business taxes in Bitcoin (BTC-USD), starting from this year. By paying taxes in Bitcoin, Overstock will be become the first major U.S. company to use Bitcoin for tax payment purpoases. Overstock Bitcoin Tax Payment The retailer will pay its commercial […] The post Overstock.com to Become First Major Firm to Pay Taxes in Bitcoin appeared first on Market Exclusive.
Here is what happened in the cryptocurrency market over the weekend. SEE: ACCIONA Uses Blockchain to Trace Renewable Electricity Generation SEE: Canadian Crypto Exchange Coinsquare Launches into European Union In the News IBM (NYSE: IBM) CEO Ginni Rometty will deliver the opening keynote address at CES 2019 on Tuesday, Jan. 8 on what is next […] The post Bitcoin News Crypto Currency Weekend Roundup January 6 appeared first on Market Exclusive.
Leading online retailer and blockchain technology pioneer Overstock.com, Inc. (OSTK) announced today that it will become the first major U.S. company to pay a portion of its Ohio state business taxes in bitcoin using the state’s new cryptocurrency taxpayer platform, OhioCrypto.com. Overstock plans to pay its commercial activity taxes (CAT) in Ohio this February using the recently-launched OhioCrypto.com platform, which allows taxpayers to pay state business taxes with bitcoin. Ohio is the first U.S. state to offer a cryptocurrency payment system for state business taxes.
Ryan McQueeney and Maddy Johnson discuss the week's wild movements in the stock market and look back upon the retail industry's top stories of 2018.
In the trailing 11 quarters, Wayfair (W) has missed EPS estimates seven times and beaten estimates in the remaining quarters.
Over the trailing 11 quarters, Wayfair (W) has beaten top-line estimates ten times, missing estimates just once. Wayfair beat analysts’ projections for all three quarters of 2018. On a year-over-year basis, revenue rose 46.2%, 47.4%, and 42.4%, respectively, in the first three quarters of 2018.
Overstock.com (NASDAQ:OSTK) blockchain subsidiary Medici Land Governance has agreed to build a blockchain-based land records and information platform for a Wyoming country. Medici Land, which focuses on land administration, has signed a memorandum of understanding with Teton County to develop the blockchain-based platform in 2019. Blockchain-Powered Property and Land Information Platform Under the terms of […] The post This Wyoming County Is Creating Blockchain-Based Land Records Platform appeared first on Market Exclusive.
Blockchain technology is one of the hottest buzzwords among investors. Now, they’ll witness its power firsthand as the blockchain stock market era begins.
Here is what is happening in the cryptocurrency this weekend. SEE: SinglePoint Gives Projections On 2019 SEE: US Energy Initiatives Now Owns $5.1 Million Sumcoins In the News CoinNess, Asia’s largest crypto information provider, has launched the CNNS Partner Program, its global growth partner program. The company says that it will invest $5 million to […] The post Bitcoin News Cryptocurrency Weekend Roundup December 23 appeared first on Market Exclusive.
tZERO, the global leader in blockchain innovation for capital markets, announced today that Alan Konevsky has been appointed as its Chief Legal Officer (CLO). Konevsky, who was most recently a senior vice president at Mastercard, will oversee tZERO’s expanding legal, regulatory, public policy and compliance functions. Konevsky will lead tZERO’s in-house legal team, and will report to tZERO CEO, Saum Noursalehi.
Medici Ventures, the leading blockchain accelerator and subsidiary of Overstock.com, Inc., has conducted a digital securities token transfer representing its equity ownership in Portsmouth, New Hampshire-based Chainstone Labs. The digital security was issued by Chainstone Labs to Medici Ventures using the Ravencoin blockchain. Ravencoin is an open-source, public blockchain built to help users create and manage tokens and digital assets such as securities.
Regulatory crackdowns and increasing skepticism regarding bitcoin trade contributed to the cryptocurrency fall, which has also contributed to Overstock’s dismal stock price trajectory. CEO Patrick Byrne set February as the deadline to offload retail operations to fund its tZERO and Medici Ventures. Also, news that bitcoin could fall to zero may have contributed to the stock price decline yesterday.
NEW YORK, NY / ACCESSWIRE / December 18, 2018 / U.S. equities extended losses on Monday as investors await details from the Federal Reserve's final policy meeting of 2018 on Wednesday. The Dow Jones Industrial ...
Bitcoin's price peaked and then popped a year ago. The believers continue to believe, arguing that prices don't matter. But that's denying reality.
The matter in hand is the wall that President Trump wants to build alongside the U.S.-Mexico border to reduce people from Mexico moving stateside. The POTUS is seeking for $5 billion in funding for the wall, while Democratic lawmakers are saying that this number is too high. If the two parties do not reach a solution on the matter, funding will run out for many major agencies at midnight Dec. 21, leading to a government shutdown before 2018 ends.