|Bid||10.33 x 1100|
|Ask||10.49 x 3200|
|Day's Range||10.16 - 10.86|
|52 Week Range||9.98 - 48.00|
|Beta (3Y Monthly)||3.05|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 7, 2019 - Aug 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||63.00|
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.
Overstock.com earnings for the first quarter of 2019 have OSTK stock up on Thursday.Source: Shutterstock Starting off the good news for Overstock.com (NASDAQ:OSTK) is the company increasing it guidance for 2019. This has the company upping its Retail Adjusted EBITDA guidance for the year from $10 million to $15 million.Overstock.com says that there are a couple of reasons for this increase. This includes the company's Retail division increasing its gross margin guidance for 2019 from $160 million to $165 million. The company also notes that it is been reducing costs by about 25% to make it a leaner organization.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe Overstock.com earnings report also includes good news for its search engine optimization (SEO). It notes that it has seen seven consecutive months of sequential increases. If it can keep this up for six more months, it will see a full SEO recovery.The Overstock.com earnings report also includes the company bringing in revenue of $367.70 million. This is down from its revenue of $445.50 million from the same time last year. However, it was still a boon to OSTK stock by beating out Wall Street's revenue estimate of $360.91 million for the period. * 7 Dangerous Dividend Stocks to Stay Far Away From Losses per share in the most recent Overstock.com earnings report come in at $1.18. This is better than the company's losses per share of $1.74 from the first quarter of 2018. Unfortunately, it doesn't come in above analysts' losses per share estimate of 93 cents for the quarter, but wasn't hurting OSTK stock.OSTK stock was up 12% as of Thursday afternoon. 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 As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Overstock.com Earnings: OSTK Stock Soars on Upbeat Guidance appeared first on InvestorPlace.
Overstock (OSTK) delivered earnings and revenue surprises of -26.88% and 1.89%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
The Midvale, Utah-based company said it had a loss of $1.18 per share. The online discount retailer posted revenue of $367.7 million in the period. Overstock shares have declined 11% since the beginning ...
SALT LAKE CITY, May 09, 2019 -- Overstock.com, Inc. (NASDAQ:OSTK) announces Dave Nielsen’s appointment to President of Overstock.com’s retail business, a position that was.
Consolidated revenue of $368 million (17% decline) and pre-tax loss of $42 million;Retail contribution (non-GAAP financial measure) of $39 million (111% growth) SALT LAKE.
On Thursday, May 9, Overstock.com (NASDAQ: OSTK ) will release its latest earnings report. Benzinga's outlook for Overstock is included in the following report. Earnings and Revenue Wall Street analysts ...
What's more, Wall Street has issued a buy recommendation rating for all three stocks. If investors add a GuruFocus financial strength rating of at least 5 out of 10 to their screening, however, they can significantly reduce the risk. Warning! GuruFocus has detected 3 Warning Signs with OSTK.
Overstock (OSTK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
SALT LAKE CITY, May 01, 2019 -- Overstock.com, Inc. (NASDAQ:OSTK) announced today that it will webcast its annual meeting of stockholders to be held on May 9, 2019 at 1:00 p.m..