|Bid||9.34 x 800|
|Ask||9.59 x 800|
|Day's Range||9.34 - 10.01|
|52 Week Range||8.96 - 48.00|
|Beta (3Y Monthly)||3.18|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 7, 2019 - Aug 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||48.00|
Discover the differences between bitcoin and credit card transactions, as well as the advantages of using one over the other.
Overstock.com, Inc. (NASDAQ: OSTK ) announced Monday that its blockchain subsidiary Medici Land Governance has signed a memorandum of understanding with Liberia’s Ministry of Finance and Development Planning. ...
Overstock.com, Inc. (OSTK) announced that Medici Land Governance (MLG), its blockchain subsidiary focused on land administration, has signed a Memorandum of Understanding (MOU) with Liberia’s Ministry of Finance and Development Planning. The MOU will lead to a pro bono pilot project exploring the potential for the digitization of existing government services and the development of e-government platforms in the African country. In opening itself to blockchain government services, Liberia joins MLG’s currently active projects in Zambia and Rwanda.
The big shareholder groups in Overstock.com, Inc. (NASDAQ:OSTK) have power over the company. Insiders often own a...
Investors sometimes complain about quarterly earnings. The argument is that the short-term focus on three-month periods forces publicly traded companies to lose their long-term focus. Decision-making is impaired as companies try to beat Wall Street estimates for each quarter instead of taking the long view. This can turn once-solid companies into stocks to sell over time.In this market, the "short-termism" argument falls a bit flat. The likes of Netflix (NASDAQ:NFLX) and Amazon.com (NASDAQ:AMZN) have been rewarded by investors for investing in the near term to increase long-term profits.Still, it's true that investors can overreact to a single quarter. A modest earnings beat or a few million dollars in extra sale don't always change the long-term investment case. At the same time, sometimes a quarter matters. Sometimes, performance over three months can change the story for years to come.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks to Buy for June For these seven companies, recent earnings reports mattered -- and that's not good news. These aren't necessarily the seven stocks that fell the most after earnings. But among mid-caps and large-caps, they're the seven whose stories took the biggest hit and they're the seven stocks to sell now. Each of these stocks fell sharply during earnings season, and each of these stocks may have a difficult time bouncing back any time soon. Stamps.com (STMP)Online postage provider Stamps.com (NASDAQ:STMP) hasn't just seen its story change after earnings. Its story has broken.For some time, short sellers had argued that STMP was due for a precipitous fall once its exclusive contract with the United States Postal Service was inevitably altered. They've been proven absolutely right. STMP lost its contract in February, news which sent the stock down by more than 50%.Three months later, in its first quarter report, Stamps.com slashed full-year EPS guidance from $5.15 to $6.15 to $3.35 to $4.85. STMP dropped another 56%, far and away the worst post-earnings decline of any widely held stock. The stock has continued to fall since. It's now down 86% over the last year, and has lost 78% of its value in 2019 alone. According to data cited by Bloomberg, STMP is the first stock since at least 2001 to fall 50% after earnings following two consecutive quarters.STMP stock does look cheap, at a little over 10x the low end of 2019 EPS guidance. But with the business model in upheaval, profits plunging, and investor confidence shattered, it should be cheap. And it will likely stay that way for some time until it can right the ship. 3M (MMM)Source: Shutterstock 3M (NYSE:MMM) is not the kind of company that makes this list very often, if ever. The diversified industrial manufacturer generally has been a stable grower. It's a Dow Jones component. Economic cycles have their say, but the century-old company has made its way through plenty of booms and busts.But the company's Q1 report does put 3M on this list -- and near the top. MMM stock fell some 13% after missing estimates and cutting its full-year outlook. The decline was so steep it took nearly 200 points off the Dow Jones Index. The response wasn't based just on the fundamentals, either.3M's CEO admitted that "we're behind the curve" in responding to lower volumes. An aggressive layoff plan suggests that management -- looking forward -- might not see demand returning. Meanwhile, weakness was concentrated in two key markets -- automotive and China -- which may not be on the way back soon. (In the case of automotive, there are long-running worries that demand may have peaked for good.)On this site, both Will Healy and Josh Enomoto have recommended that investors buy the dip. Both authors make intriguing cases. But MMM has kept falling after the earnings report: it's now down about 25% from pre-earnings levels. Analysts, including Stephen Tusa, who was dead on in forecasting the long fall of General Electric (NYSE:GE), remain bearish. Trade war impacts could add further pressure. To me, it's a stock to sell, not buy. * 4 Consumer Staples Stocks for Both Income and Growth This isn't a case of investors reacting to a single quarter. They're reacting to what the quarter means. And what it means is that 3M has fallen behind and has roadblocks in its path toward catching up. Nordstrom (JWN)Source: Shutterstock Retailer Nordstrom (NYSE:JWN) only fell about 9% after disappointing Q1 earnings this week. In terms of the one-day decline, JWN is hardly one of the worst performers after earnings.But the Q1 report is more problematic for JWN than the market's single-day response might suggest. First, JWN shares had steadily drifted downward heading into the report. In fact, save for a very brief dip in 2016, the stock already was at an eight-year low. Expectations were modest heading into the report -- and Nordstrom still couldn't deliver.The second, broader, issue is that Nordstrom now looks like a business headed for a decline. Mall stocks in general have had a rough go of it lately, but even by those standards, JWN has underperformed. And once the narrative around a stock turns to whether earnings are done for good, it becomes a stock to sell. We've seen that with retailers like Bed Bath & Beyond (NASDAQ:BBBY), Tuesday Morning (NASDAQ:TUES) and Pier 1 Imports (NYSE:PIR).Investors might retort that Nordstrom isn't part of that group -- but that's the point. The bull case for JWN -- and the reason it cleared $65 as recently as early November -- was that its brand kept it immune from some of the challenges facing physical retailers. What's clear at the moment is that investors no longer believe that to be the case. Once that narrative takes hold, in the days of Amazon, it's very difficult for retailers to convince investors otherwise. Lowe's Companies (LOW)Source: Mike Mozart via Flickr (modified)To be clear, all is not lost for Lowe's Companies (NYSE:LOW), even after a disappointing first quarter report. A 12% post-earnings decline certainly wasn't welcomed by shareholders. But LOW stock still is positive YTD. Same-store sales still rose 3.5% year-over-year in Q1. The midpoint of fiscal 2019 (ending January 2020) EPS guidance implies adjusted EPS should rise about 9% this year.But the first quarter report is a big hit to the narrative behind LOW. As James Brumley pointed out in early March, LOW had outperformed Home Depot (NYSE:HD) stock over the past year -- a notable reversal from LOW's historic second-place status. A new CEO, new strategies, and a rationalized footprint seemed set to make Lowe's a more viable competitor to its larger rival.Lowe's did take some share from Home Depot in the quarter: its 3.5% comp outpaced HD's 3% print. But a huge compression in gross margin suggests that Lowe's bought some of those extra revenues. And a substantial earnings miss suggests Lowe's paid too much in the process. * 4 Drug and Health Stocks Pushing Higher Again, LOW isn't headed to the list of retailers facing bankruptcy risk. But the rally in LOW stock over the past year-plus was based on the idea that it had room for improvement, and the ability to narrow the gap with Home Depot. Q1 numbers and FY19 guidance both undercut that narrative -- which is why Lowe's stock has fallen so hard. Tesla (TSLA)Source: Shutterstock For Tesla (NASDAQ:TSLA), the earnings report itself wasn't really the biggest problem of earnings season. Certainly, the headline numbers missed badly, though CEO Elon Musk already had warned that the quarter would be tough. TSLA stock, however, didn't fall that far after the report, with investors giving the company the benefit of the doubt.The step-down in US tax credits and the demand spike that accompanied the initial launch of the Model 3 both benefited results in the second half of 2018 -- and likely provided headwinds to sales in Q1. Tesla reaffirmed full-year guidance for deliveries, and that seemed to settle investors' nerves.It didn't last, though, for one key reason. Any investor willing to give Tesla a pass for the first quarter had to have some level of trust in the company. Over the last few weeks, that trust has eroded. And what originally looked like a one-quarter problem increasingly looks like a harbinger of permanently lower demand.Analysts have turned sharply negative. Musk's claims that a "robotaxi" service would make Tesla cars worth $250,000 each -- and make Tesla a $500 billion company -- have been dismissed. As Wayne Duggan wrote, investors now are ignoring Elon Musk. In that context, the reaffirmed guidance isn't evidence that demand will return. Instead, it looks more like yet another broken promise.TSLA stocks continue to slide, touching another new low on Friday. The narrative here clearly has reversed dramatically since earnings, and I wouldn't bet on Musk to fix that problem. In fact, I continue to bet that he won't. Even if you don't want to make a bearish bet, Tesla is still one of the stocks to sell now. Overstock.com (OSTK)Source: Shutterstock For Overstock.com (NASDAQ:OSTK), too, the actual earnings report wasn't the biggest reason OSTK is on this list of stocks to sell. In fact, Overstock's Q1 actually wasn't that bad. OSTK stock jumped after revenue beat estimates and the company raised Adjusted EBITDA guidance for its retail business.The gains didn't hold: OSTK sits near a three-year low. And like with TSLA, the problem is clear: trust. As I wrote in early March, Overstock.com CEO Patrick Byrne had lost the faith of investors. An investment from GSR Capital, announced back in August, was supposed to be $400 million; per the Q1 conference call, GSR is putting in just $5 million. The retail business was going to be sold, so Overstock could focus on its blockchain businesses. That hasn't happened. tZERO tokens issued by Overstock's subsidiary are trading at a fraction of their value.It was Q4 earnings last year that turned me solidly against the bull case for OSTK. Q1 earnings -- while above expectations -- don't change that problem. The retail business still is unprofitable, with little sign for improvement. The blockchain efforts seem to be fizzling out. And on top of it all, Byrne went and sold 500,00 shares of stock at an average price around $13. That sale -- near the lows -- sent OSTK shares down another 15%. The CEO followed up with a somewhat angry statement to shareholders defending his sale and vowing not "to ever give such an explanation again". * Marijuana Stocks: Catch the Next Hot Pot Stock Before It 'Jumps' Without Byrne as a visionary, and without progress in blockchain, Overstock.com is just a struggling and unprofitable online retailer. That's not enough, even at a multi-year low. This one is solidly on our list of stocks to sell. Aphria (APHA)Source: Shutterstock Cannabis stocks like Aphria (NYSE:APHA) are going to see quite a bit of volatility, so a bounce back wouldn't be a surprise. Indeed, APHA shares are up 9% in early trading Friday following an upgrade from Jefferies (NYSE:JEF).But Aphria's fiscal Q3 report last month was concerning. APHA shares dropped 12% and kept falling. Before Friday's bounce, they were trading near 2019 lows -- and dramatically underperforming other pot plays like Canopy Growth (NYSE:CGC) and Hexo (NYSEAMERICAN:HEXO).As I wrote at the time, the declines made some sense. Aphria took a quick writedown of assets in Latin America -- assets a short seller report had said were largely worthless. Aphria has disputed that contention, but admitted that key executives hadn't disclosed conflicts of interest. Growth looked impressive, but came largely from the acquisition of a lower-margin distribution business. The legacy business actually had a disappointing quarter, the key reason why results missed Street estimates.To be sure, there's still a bull case for APHA, as I wrote this week. If new management hits new targets, Aphria stock is going to rise. But like so many stocks on the list, the earnings report broke investors' trust. And in the market, as in life, it's difficult to get that back.As of this writing, Vince Martin has a bearish options position in TSLA. He has no positions in any other securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for June * 7 Stocks to Buy From One of America's Best Pension Funds * 4 Consumer Staples Stocks for Both Income and Growth Compare Brokers The post 7 Stocks to Sell After Earnings Destroyed Their Long-Term Stories appeared first on InvestorPlace.
Overstock.com, Inc. (OSTK) announced that Medici Land Governance (MLG), its blockchain subsidiary focused on land administration, has signed a Memorandum of Understanding (MOU) with the Lusaka City Council (LCC) that will lead to the issuance of no fewer than 250,000 certificates of title related to real property under the jurisdiction of LCC in and around the capital city of Zambia. In addition to establishing a simplified, time-sensitive, and streamlined titling process that builds on the 50,000 homes upon which MLG collected governance information in the fall of 2018, the MOU calls for developing and deploying a land information management system to handle title transfers, title searches, and other transactions.
Overstock.com, Inc. (OSTK) recently launched the world’s largest omni-channel 3D and augmented reality (AR) experience in e-commerce, expanding its 3D models from its award winning mobile apps to mobile web, reaching 100 percent of the retailer’s mobile users. Building on Overstock’s investment over the past three years in AR and 3D experiences, Overstock partnered with Seek, an AR industry leader specialized in web-based AR, to build on this innovation. Today, whether they’re using the mobile app or browsing online, Overstock shoppers can seamlessly view true-to-life size 3D renderings of thousands of products from top selling categories like furniture, home goods, and décor on all platforms and view these products in their room with AR.
CEO pay isn't always a multimillion-dollar package. Many investors might be surprised to find even CEOs of publicly traded companies earn less than $100,000 a year.
Patrick Byrne, CEO of online retailer Overstock and high profile blockchain enthusiast, has moved to defend his recent sale of around 900,000 shares in the company. He did so as Overstock’s stock price slumped mid-week and shareholders kicked up a fuss. In a ‘take no prisoners’ letter, he said: “An unanticipated stir has been created this week among shareholders by my sale of approximately 900,000 shares of “founder’s shares” of Overstock, referenced in Form 4 filings on 15th May 2019, and today on 17th May 2019. Oddly, people of whom I have never heard are writing me demanding answers regarding my timing, reasoning, and purpose in such sales.” “Apparently, some find it unsettling and demand answers from me about why, after 20 The post Miffed Overstock boss responds to ‘gauche’ shareholder letters appeared first on Coin Rivet.
In Friday's missive, Byrne said he had sold an additional 400,000 shares. In all, Byrne recently sold 900,000 "founders shares," amounting to more than 15% of his stake in the company. "I simply had to supplement my nominal salary with stock sales in order to fulfill personal commitments to invest personally in blockchain projects such as Medici Land Governance, along with a need to meet charitable pledges," Byrne wrote.
"Apparently, some find it unsettling and demand answers from me about why, after 20 years of working (generally without salary or compensation), I might sell several tens of millions of dollars' worth of stock," his statement said. "Frankly, I had no idea that shareholders would demand explanations of why and how I might want to use my cash derived from my labor and my property to pursue my ends in life.
An unanticipated stir has been created this week among shareholders by my sale of approximately 900,000 shares of “founder’s shares” of Overstock.com, Inc. (OSTK), referenced in Form 4 filings on May 15, 2019, and today on May 17, 2019. Oddly, people of whom I have never heard are writing me demanding answers regarding my timing, reasoning, and purpose in such sales. Apparently, some find it unsettling and demand answers from me about why, after 20 years of working (generally without salary or compensation), I might sell several tens of millions of dollars' worth of stock. Frankly, I had no idea that shareholders would demand explanations of why and how I might want to use my cash derived from my labor and my property to pursue my ends in life.
There's been an unusual amount of inventory being sold at Overstock.com (NASDAQ:OSTK) in recent days. But it's not business as usual and that's a bad sign for Overstock stock and its bullish investors. Let me explain.Source: Shutterstock Should astute investors have smelled something fishy in Overstock stock's price behavior the past couple months as shares continued to hit new relative lows? Quite possibly. Still, Wednesday's news-driven stench may not be the worst of it for OSTK shares either.Overstock sank nearly 16% towards three year lows after it was disclosed CEO Patrick Byrne has been aggressively selling shares. Specifically, a filing revealed back-to-back sales of 250,000 shares on May 13th and May 14th at $13.33 and for an average price of $12.84 on the latter transaction.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo what? Aren't executives allowed to sell stock in order to make other purchases like buying a house, paying a child's tuition to attend USC or other hefty bills? They are. And typically it's done without too much scrutiny. But despite the fairly tame -- for a CEO of course -- net dollar value of around $6.5 million, OSTK looks different and that's troubling. Why you ask? * 7 Stocks to Buy that Lost 10% Last Week Over the past couple years, OSTK has traded as a derivative play of sorts within the cryptocurrency and blockchain space. Shares of OSTK have followed those markets in lockstep courtesy of Overstock stock's Medici Ventures tZERO blockchain platform and the company being a vocal early adapter of allowing Bitcoin payments for goods sold on Overstock.But that strong correlation in OSTK has gone out the window the past couple months. And it raises a red flag seemingly being confirmed by Wednesday's report.The problem is Overstock stock's very curious price behavior has been completely uncorrelated to Bitcoin, Etherium, Litecoin and other cryptocurrencies. In 2019, the speculative but maturing asset class has continued to rise for five straight months like a phoenix from the ashes to reclaim some of 2018's bubble-bursting implosion. Meanwhile, OSTK shares are now sitting at three year and pre-bubble price levels.Throw in the broader market's own best Q1 start in decades and OSTK's 45% decline over the past two months prior to Wednesday's news -- without too much reliance on hindsight, Overstock was already warning investors to step to the side. Overstock Stock Weekly Chart Click to EnlargeSo, what's next for OSTK? If I was to simply look at the weekly price chart in a vacuum, the technical inclination would be to give shares the benefit of the doubt that a punishing bearish cycle was close to completion. Specifically, an oversold stochastics set-up combined with a lower-low double bottom pattern near the aforementioned three year lows does offer contrarian-minded Overstock stock bulls potential reasons to drool. But I'd be extremely careful.With the CEO of Overstock a longtime, wildly notorious critic of Wall Street and short sellers (who are now up to their eyeballs short at 65% of the float) consequentially giving that community ammunition with his sale of shares -- I'd recommend that stepping to side still makes sense. Bottom-line though, if you are going to join the crowd in Overstock stock or take on the role of a contrarian, a limited-risk options play is the only game in town to consider.Disclosure: Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. . For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Stocks to Sell Before They Tank Your Portfolio * Top 7 Dow Jones Stocks of 2019 -- So Far * 5 Low-Priced, High-Potential Tech Stocks to Buy Compare Brokers The post Donat Discount the Discount Sale in Overstock Stock appeared first on InvestorPlace.
A nice rebound on Wednesday, with the S&P 500 mustering a 0.59% gain to end the session at 2,850.96. But, the effort stopped at a familiar technical ceiling, and the volume behind the move was never impressive. The bears may still be quietly in control.Source: Allan Ajifo via Wikimedia (Modified)Amazon (NASDAQ:AMZN) did more than its fair share of heavy lifting, gaining 1.7% mostly on the heels of a reminder that Berkshire Hathaway has taken a big stake in the e-commerce company. Smaller outfit Trade Desk (NASDAQ:TTD) dished out the bigger gain though, rallying another 7.9% to bring its two-day tally to 13% after the market had a chance to chew on last quarter's numbers.Holding the market back, more than any other name was Overstock.com (NASDAQ:OSTK), off nearly 16% in response to reports that CEO Patrick Byrne sold a sizable chunk of his stake during the first quarter of the year.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks to Buy that Lost 10% Last Week Headed into Thursday's session, however, it's the stock charts of Mohawk Industries (NYSE:MHK), Raytheon Company (NYSE:RTN) and People's United Financial (NASDAQ:PBCT) that are of the most interest. They look closer to the beginning of big moves rather than at the end of them. People's United Financial (PBCT)Most bank stocks were in the red on Wednesday, for industry-specific reasons, and People's United Financial was no exception to that bearish tide. But, PBCT stock was an exception in the sense that its pullback was considerably bigger than those booked by other banking names, and the scope of the move itself did some serious technical damage to this particular stock that wasn't done to other tickers in the same group.A couple of different times this year it appeared PBCT would be able to break away and rally. This week's second blow, however, may discourage a third rebound effort. Click to Enlarge * Not only are People's United Financial back under all of their key moving average lines, but the most recent selloff days have also all been on above-average volume. The gains have been on light volume. * Although we just made the opposite signal, the purple 50-day moving average line is nearing a cross back below the 200-day moving average line plotted in white on both stock charts. That would be a so-called 'death cross.' * The weekly chart is one bad day away from giving a bearish MACD cross, which has historically been a good signal of more trouble. Mohawk Industries (MHK)Last year was a miserable one for Mohawk Industries shareholders. The stock peaked near $287 in late 2017, and by December of 2018 was at lows near $109.MHK shares have since stopped the bleeding, but they haven't recovered. They've not even dropped clear hints of signs they could recover. Investors willing and able to look past the overt clues and pay attention to the more subtle ones, however, have good reason to put Mohawk Industries back on their watchlist. * 10 Stocks to Sell Before They Tank Your Portfolio Click to Enlarge * It's been intermittent and inconsistent, but all of the short-term moving average lines are now acting as technical support. This provides a pushoff point for the next bullish effort. * The line in the sand is, give or take, $144. That's where the 200-day moving average is, and that's where the February surge topped out. Raytheon Company (RTN)Raytheon Company shares got the new year started on the right foot, along with most other stocks. Unlike most other stocks though, that advance was stopped in its tracks in late February. Although a floor appears to have developed right where it should have, the ceiling appears to be even better developed now than it was then.Whatever's in the cards, the make-or-break lines are well-defined, and should be heeded. And, for what it's worth, the path of least resistance from here is a bearish one. Click to Enlarge * The ceiling in February was the 200-day moving average line, plotted in white on both stock charts. It didn't cap the bullish moves in April, but the peak around $188 did step up again. * On the other side of the daily bars is support at the gray 100-day moving average line, which has helped muster straight-line support around $174, plotted with a red, dashed line. * It's not evident on the daily chart, but when zooming out to the weekly chart it's clear that at least some of this month's weakness can be attributed to the falling resistance line that has guided RTN lower since last April's peak.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Retirement Stocks That Won't Wilt in a Bear Market * 5 Consumer Stocks Ready to Push Higher * 3 of the Best ETFs to Buy for a Play on Gold Stocks Compare Brokers The post 3 Big Stock Charts for Thursday: Mohawk Industries, Raytheon and People's United Financial appeared first on InvestorPlace.
Shares of Overstock.com Inc. were off more than 15% in afternoon trading Wednesday after Chief Executive Patrick Byrne disclosed in a filing that he sold 500,000 shares earlier this week. Byrne said in the filing that he sold 250,000 shares on May 13 at a price of $13.33 and sold another 250,000 shares a day later for an average price of $12.84. The shares are listed as being indirectly owned through High Plains Investments LLC. Overstock didn't immediately reply to a MarketWatch request for comment about the stock sale. Shares have fallen 20% so far this year, as the S&P 500 has risen 14%.
Medici Ventures, the wholly-owned blockchain subsidiary of Overstock.com, Inc. (OSTK), announces that its Belgium and Dubai-based keiretsu company, SettleMint, has opened 2019 with three major successes related to its leading blockchain enterprise technology solution, Mint. In January, SettleMint was selected as a recipient of the Horizon 2020 SME Instrument Phase II Grant, amounting to €1.8 million. SettleMint was also chosen to deliver a Proof of Concept for blockchain applications in securities services to Standard Chartered, a “leading international bank focused on helping people and companies prosper across Asia, Africa, and the Middle East.” In April, SettleMint was awarded a €1.591 million Research & Development grant from VLAIO to further develop its core technology, the distributed middleware Mint.
Like everyone else, elite investors make mistakes. Some of their top consensus picks, such as Amazon, Facebook and Alibaba, have not done well in Q4 due to various reasons. Nevertheless, the data show elite investors' consensus picks have done well on average over the long-term. The top 15 S&P 500 stocks among hedge funds at […]
Cryptocurrencies are staging a major come-back. For example, cryptocurrency Bitcoin bottomed out at around $3,360 at the start of the year and traded recently at $5,700. Now, with reports that Fidelity will roll out a crypto trading service within a few weeks, bet on prices firming up.Source: Shutterstock Fidelity is reportedly set to launch cryptocurrency trading service soon. A spokeswoman said that "We currently have a select set of clients we're supporting on our platform."Fidelity will focus on the Bitcoin cryptocurrency and will target institutional, not retail, customers. This is unfortunate for the crypto market because it would exclude two other major cryptocurrencies: Ethereum and Litecoin.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSimilar to Bitcoin, Ethereum bottomed at around $154 and closed recently at $173. Litecoin traded as low as $31 in January and topped out at almost $92 on April 6. It settled at around $75 on May 6. * 7 Dangerous Dividend Stocks to Stay Far Away From Bitcoin Gains LegitimacyThe cryptocurrency market still struggles from getting taken seriously for a good reason. Fraud and theft are the chief problems the currency faces. Still, those caught stealing the currency are getting charged and indicted. For example, the man who stole $9 million was indicted in Israel.The bad news is that crypto theft is still growing at an alarming rate. Losses grew 70% from 2018 to $1.2 billion. This suggests that Fidelity will have to limit the growth of its service and tread carefully. It must prioritize security and threat detection first and foremost over everything else. Investing in Bitcoin ReboundAlthough investors will not have a chance to participate in Fidelity's entry in the crypto market, they could buy Grayscale Bitcoin Trust (OTC:GBTC) instead. Investors could buy the stock on the open market but should be aware of two things.First, the holding has a 2% annual fee. And second, it trades at a premium to the underlying Bitcoin. Investors could do more research to learn how to buy Bitcoin directly from exchanges. That would remove the unnecessary costs associated with gaining exposure in the cryptocurrency.Despite my concerns for GBTC, the stock is still a good trading vehicle for speculative investors. If Bitcoin rises, GBTC will go up, too. Likewise, if Bitcoin falls, GBTC falls. The stock has sufficient liquidity to allow for quick trades. Trade OverstockHolding shares of Overstock.com (NASDAQ:OSTK) is another way to indirectly play the Bitcoin boom. Per Overstock's website:"We partnered with Coinbase, a Bitcoin platform, to enable Bitcoin as a form of payment on Overstock.com…Unfortunately, Bitcoin payments are not yet accepted through our Mobile website. However, the Pay with Bitcoin option is now available for Overstock international customers."Unfortunately, Overstock failed to secure $100 million in a fund raise in April. GSR Capital, a Chinese firm, does not have a definitive deal as the firm carries out its due diligence first.If Overstock succeeds in getting the investment it needs for the Bitcoin subsidiary, its stock could attract crypto investors. The stock is in a downtrend, trading recently below $13 and down 27% in the last quarter.Although its underlying business lost money last year, management is now aiming to generate $10 million in operating cash flow in 2019. Having Bitcoin prices perk up and getting its subsidiary funded will help the stock move higher.On Wall Street, only one analyst covering OSTK stock has a $51 price target. Shares trade at three times below that level. So, even with the surging Bitcoin prices, Overstock shares are unlikely to trade at that level. Your TakeawayBitcoin is a volatile asset class that is no different from other commodities. Oil, gas, and gold (NYSE:GLD) are also commodities whose prices fluctuate. Investors with the appetite to trade the price movements in Bitcoin could make plenty of profits.Timing the entry price on the drop and the exit when the cryptocurrency surges are the harder aspects of the trade.Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dangerous Dividend Stocks to Stay Far Away From * 7 Tips for New Investors Young and Old * 10 Great Stocks to Buy on Dips Compare Brokers The post Here's How to Invest in the Cryptocurrency Trading Services Boom appeared first on InvestorPlace.