|Bid||21.10 x 1100|
|Ask||21.50 x 1100|
|Day's Range||20.64 - 23.06|
|52 Week Range||2.53 - 29.75|
|Beta (5Y Monthly)||3.75|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug. 06, 2020 - Aug. 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||33.00|
Overstock.com, Inc. (OSTK) distributed a stockholder dividend paid in shares of its Digital Voting Series A-1 Preferred Stock, OSTKO, on May 19, 2020. Since that issuance, the company has received numerous questions from investors regarding the Digital Voting Series A-1 Preferred Stock and is reiterating its key attributes in response to those questions, which have been previously disclosed in stockholder materials in connection with the dividend.
What happened Overstock.com (NASDAQ: OSTK) shareholders dramatically outperformed the stock market last month. The stock rose 46% in May compared to a 4.5% increase in the S&P 500, according to data provided by S&P Global Market Intelligence.
tZERO, the global leader in blockchain innovation for capital markets, announced today that broker-dealers ChoiceTrade and a multinational, publicly-traded investment bank and financial services company focused on institutional brokerage are now live and trading on the tZERO ATS. These broker-dealers join Dinosaur Financial Group, LLC as subscribers to the tZERO ATS. Customers of those broker-dealers are now able to trade Overstock’s innovative Series A-1 dividend shares, which were issued to Overstock shareholders last week. These firms and their customers are expected to have access to TZROP (tZERO's preferred equity security) and other assets that trade on the tZERO ATS in the near future. The tZERO ATS now has three active subscribers and has signed four additional agreements with progressive broker-dealers interested in trading securities.
On May 19, 2020, Overstock.com, Inc. (OSTK) paid a dividend to stockholders of record as of April 27, 2020 in the form of shares of Digital Voting Series A-1 Preferred Stock, OSTKO, which is registered with the Securities Exchange Commission under the Securities Act of 1933. “It has come to the company’s attention that shares of Series A-1 Preferred Stock are being sold on platforms other than the alternative trading system (ATS), operated by tZERO ATS, LLC,” said Overstock Chief Executive Officer Jonathan Johnson.
Overstock.com, Inc. (OSTK) announces that it has successfully completed the issuance of its Digital Voting Series A-1 Preferred Stock (“Series A-1”) (OSTKO) digital dividend on May 19, 2020, as expected. The dividend was issued in Series A-1 shares on a 1:10 basis to all Overstock shareholders as of the record date of April 27, 2020. Overstock distributed the dividend shares though its transfer agent, Computershare, to investors’ brokerage or other custodial accounts in which they hold their Overstock securities, and no action by shareholders was necessary for them to receive the dividend.
Shares of Overstock (NASDAQ: OSTK) were flying higher once again on Tuesday, after shares of its digital dividend were distributed. As of 1:45 p.m. EDT, shares of its common stock were trading an impressive 19% higher on the Nasdaq exchange. While the digital dividend is today's news specifically tied to Overstock, it's also possible the stock is moving higher as investors continue to favor e-commerce companies.
(Bloomberg) -- Overstock.com Inc.’s stock price has been on a tear during the coronavirus crisis, but behind the scenes the online retailer is locked into a pitched battle with Wall Street over its controversial plans to issue a first-of-its-kind digital dividend.The fight stems from Overstock’s demand to control where the new securities are allowed to trade, rather than letting investors buy and sell them wherever they choose. Earlier this month, the company sent a letter to a number of financial firms reminding them that it expects all trading in the dividend to take place on a venue called tZERO, which Overstock owns.The retailer’s lawyers reiterated the requirement during a conference call with brokers that industry executives say quickly devolved into threats of lawsuits, though Overstock disputes that any such warnings were made. The tensions are coming to a head just as the dividend, which will give investors one preferred share for each 10 common shares they own, is set to be issued on Tuesday. Overstock says some records for the security will be be stored on the blockchain but maintains that it is not a new virtual currency.Read More: All About Bitcoin, Blockchain and Their Crypto WorldIf Overstock’s dividend plan proves successful, the implications for U.S. markets could be significant. More companies may decide to dabble in digital assets or add restrictions to their shares, especially if they find that doing so gives them more sway over their investors. On Wall Street, brokerage firms and exchanges are loath to see the launch of any security that raises the specter of a monopoly and could cut them out of trading and listing fees.SEC ScrutinyThe question of whether a company can dictate where investors are allowed to sell their stock has attracted attention from the U.S. Securities and Exchange Commission, which has long been focused on ensuring that shareholders get the best execution for their trades at low prices. While the regulator signed-off on Overstock’s dividend following an extensive review, it’s aware of the dispute around tZERO and may weigh in, said people with knowledge of the matter.“This raises fundamental questions about the rights of shareholders,” said James Angel, an associate professor at Georgetown University’s business school who owns some Overstock shares and follows the company closely.In an emailed statement, Salt Lake City-based Overstock said that it’s perfectly legal for the company to restrict trading to its own platform, adding that it hopes market participants adhere to the mandate. “If not, like any security issuer, we will take necessary action to ensure compliance with the terms of the security,” the company said.SEC scrutiny of Overstock’s dividend isn’t new. The company has said that it received a subpoena from the regulator last October demanding documents about the security, as well as the stock trading plans of Overstock executives and directors. In a May 7 regulatory filing, the company said it is fully cooperating with the request.An SEC spokeswoman declined to comment.400% JumpOverstock’s dustup with Wall Street comes amid a turnaround for the company, which is benefiting from homebound consumers needing to shop from their couches. Its shares have jumped more than 400% since mid-March, making the company one of the U.S.’s top performers. The rally follows a 48% drop for Overstock last year and a 79% plunge in 2018.Overstock slid 11% to $15.19 in New York trading Monday, its biggest daily decline since April 22.Broker and exchange complaints about the digital dividend are wide-ranging. They say limiting trading to one venue will hurt liquidity, making it difficult and expensive for investors to sell their shares. The one brokerage doing business with tZERO, called Dinosaur Financial Group, plans to charge a 1% fee, according to an April news release. That’s a stark contrast to the free trades offered by many retail brokers. Dinosaur is run by Glenn Grossman, whose son is a tZERO executive.Overstock said it’s not unusual for professionals in the financial industry to have family ties. A spokesman for Dinosaur declined to comment.Overstock’s dividend already has a trading symbol, OSTKO. There has been some buying and selling ahead of its official issuance, but those transactions will settle after the shares are given out.Dictating VenuesGTS, an electronic trading firm that is the nation’s biggest market maker for over-the-counter securities, has traded the new dividend and was one of a number of companies that got a letter from Overstock’s lawyers on May 7. The restriction, GTS Chief Executive Officer Ari Rubenstein said, violates the principles of free and fair markets and makes it very challenging for his firm to ensure it is getting the best price for clients.“This is flatly against everything we believe in,” Rubenstein said. “America’s market system is not based on dictating the trading venue and charging exorbitant fees.”GTS got clearance on Friday from the Financial Industry Regulatory Authority, the frontline overseer for brokers, to trade the dividend. The approval deals a potential blow to Overstock.TD Ameritrade recently sent a note to its customers with Overstock shares telling them they couldn’t trade the dividend through the firm. Clients wishing to buy or sell the securities “will need to make other arrangements,” the letter said.Byrne’s ObsessionThe online merchant’s plans for the dividend have sparked controversy since they were first unveiled in mid 2019. The company has said it created the security partly to push Wall Street toward blockchain technology -- an obsession of outspoken founder Patrick Byrne. He left Overstock last year amid a scandal over his romantic involvement with alleged Russian spy Maria Butina, a conservative gun aficionado who was imprisoned after failing to register as a foreign agent.Read More: Byrne’s Lingering Legacy at Overstock Is Burning ShortsOverstock is seeking to boost tZERO’s business by restricting trading to the platform. It has said the dividend has the potential to introduce tens of thousands of new investors to the venue, which is devoted to digital tokens.Critics claim that another motivation is thwarting short sellers who Overstock has fought with for years. That’s because traders betting against the company would be obligated to deliver the digital dividend to brokers they had borrowed shares from. But the perceived difficulty of doing that has prompted many to close out their short positions instead, according to market participants. The company’s stock price soared in the weeks after it announced the dividend last year.In its statement, Overstock said that the dividend would have no impact on short selling.(Updates with closing share price in 11th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
At Overstock's annual meeting last week, CEO Jonathan Johnson said that quarter-to-date sales were up 130% year over year, with new customers up 260% during the period, as more consumers than ever were embracing online shopping. Peloton's sales -- and shares -- have surged since March. Peloton has a similar story to tell.
Overstock.com, Inc. (OSTK) a tech-driven online retailer and advancer of blockchain technology, announces an event for analysts and investors to be held on June 10, 2020, from 4pm to 6pm ET. The event will include include discussion and Q&A with members of the company’s executive leadership team, and will take place via a live webcast to comply with guidance from health and government officials against in-person gatherings during the coronavirus (COVID-19) pandemic. “I am committed to improving communications with our shareholders and helping the investment community better understand who Overstock is as a company,” said Overstock CEO Jonathan Johnson.
Shares of Overstock (NASDAQ: OSTK) have jumped today, up by 17% as of 2:45 p.m. EDT, after the company said sales had skyrocketed as COVID-19 drives consumers to e-commerce. At the meeting, CEO Jonathan Johnson provided investors with an update about the business's performance during the novel coronavirus outbreak. The company has shifted to a new model where 100% of employees are now working from home, and Overstock has also enjoyed new retail customer growth of 85% year to date.
Michael Sonnenshein, Managing Director at Grayscale Investments, joined Yahoo Finance's Myles Udland, Dan Roberts, and Melody Hahm to discuss Bitcoin's third halving and with it means for investors.
Shares of e-commerce company Overstock (NASDAQ: OSTK) are getting used to going up in recent weeks, and Wednesday was no exception. It's just a theory, but it's possible Overstock's upcoming digital dividend has sparked a short squeeze of the stock. In recent days, Overstock's stock has gone up a lot.
Shares of Overstock (NASDAQ: OSTK) rose once again on Tuesday, after rival Wayfair (NYSE: W) reported impressive first-quarter 2020 earnings. At the close of trading, Overstock shares were up 8.5%. The following chart stretches credulity by displaying the stock performance of Wayfair and Overstock just since March 18, a mere seven weeks ago.
Celebrations may be in order for Overstock.com, Inc. (NASDAQ:OSTK) shareholders, with the covering analyst delivering...
Shares of Overstock (NASDAQ: OSTK) continued their upward march on Monday, after a report showed online furniture sales surged in April. Overstock's stock traded as much as 12% higher on the news, and still traded 9% higher as of 3:30 p.m. EDT. Privately-held Blueport Commerce allows traditional furniture retailers to build an online presence.
Joining me today are Jonathan Johnson, CEO of Overstock and President of Medici Ventures; Adrianne Lee, CFO of Overstock; Dave Nielsen, President of Overstock Retail; and Saum Noursalehi, CEO of tZERO. Thank you, Alexis.
SALT LAKE CITY, April 30, 2020 -- Overstock.com, Inc. (NASDAQ:OSTK), a tech-driven online retailer and advancer of blockchain technology, today reported financial results for.
GrainChain, a keiretsu company of Medici Ventures, Overstock.com, Inc.’s (OSTK) wholly owned blockchain subsidiary, has been honored as a finalist in the “Food” category for the Fast Company 2020 World Changing Ideas Awards. This premier award honors products, concepts, companies, policies, and designs that offer innovative solutions to the issues facing society and the planet. With an innovative suite of products providing world-changing solutions in blockchain, Internet of Things, and advanced logistics systems, GrainChain is benefitting every level of the agricultural industry.
Overstock.com, Inc. (OSTK) announces that it will now hold its 2020 annual stockholders meeting virtually, in lieu of an in-person meeting, in response to direction from health and government officials against large gatherings during the country’s response to COVID-19. Holders of record at the close of business on March 20, 2020 will be entitled to vote at and ask questions during the annual meeting by following the instructions available on the virtual meeting website at https://www.meetingcenter.io/259771871. An audio replay of the virtual meeting will be available at http://investors.overstock.com starting two to three days after the meeting date.
SALT LAKE CITY, April 24, 2020 -- Overstock.com, Inc. (NASDAQ:OSTK), the e-commerce and blockchain technology pioneer, is scheduled to release first quarter financial results.
Overstock.com, Inc. (NASDAQ:OSTK) shareholders will doubtless be very grateful to see the share price up 173% in the...
tZERO, the global leader in blockchain innovation for capital markets, today announced that GoldenSand Capital (formerly known as GSR Capital), a private equity firm based in Hong Kong, has completed its $5 million equity investment in tZERO.
Overstock.com, Inc. (OSTK) is approaching the record date for its Digital Voting Series A-1 Preferred Stock (“OSTKO”) dividend. All Overstock shareholders as of April 27, 2020 will receive the dividend, which will be distributed on a 1:10 basis in shares of OSTKO on May 19, 2020. Eligible shareholders do not need to take any action to receive the dividend.