Cryptocurrencies
Overstock Doubts Deepen With Short Sellers Piling In Before Earnings
- Firm set to post results two weeks after disclosing SEC probe
- Short interest has more than tripled since September
Employees work at the Overstock.com Inc. fulfillment center in Salt Lake City, Utah, on April 26, 2016.
Photographer: Cayce Clifford/Bloomberg
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Overstock.com Inc. has had a rough year so far. The online retailer’s stock has lost almost half of its value since peaking in January. Digital currencies, which the firm has fully embraced, have lost some steam. And it’s being investigated by the U.S. Securities and Exchange Commission over its initial coin offering.
And short sellers -- long-detested by Chief Executive Officer Patrick Byrne -- are loving it.