TheBlock 2019-11-12 23:52:24

Overstock 3Q19 Review: Weak earnings and SEC subpoena sends shares tumbling 17%

Quick TakeDespite lowering guidance in September, Overstock’s 3Q19 results came in less than expected as sales fell 21% year-over-yeartZERO continues to disappoint as trade volumes remain low and milestones get dragged outQuarterly filings reveal that the company received a subpoena from the SEC in regards to the company’s digital divdendThe company also quietly announces its plans for an ATM offering for up to $150 million worth of common stock

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