By Kuldip K. Ambastha and Anil K. Ambastha
Overstock.com, Inc. (OSTK) is an online retailer which offers a wide variety of products. Its stock fell by 17.4% on Tuesday, November 12, 2019 due to disappointing 3Q2019 results plus an investigation by the U.S. Securities and Exchange Commission (SEC). Specifically, a $0.89 loss per share was seen and this was more than the estimated $0.62 loss per share. Also, $347.1 million in revenue was received as opposed to the estimated $376.2 million. The SEC’s enforcement division is looking into the company’s digital dividend plans, the stock-trading plans of key executives, and communications with former executives. At the end of the trading day of Tuesday, November 12, 2019, the stock closed at $7.78 which is its lowest price in seven years.
Keywords – Overstock.com, Inc., OSTK, online retailer, 3Q2019, SEC, enforcement, loss per share, revenue, dividend, trading, communications, executives, trading, lowest price.
Disclosure – The principals and clients of Ambastha Financial LLC do not have any positions in OSTK.
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