Why Overstock.com, Inc. Surged 35% in September
Shares of Overstock.com (NASDAQ: OSTK) soared 35.3% last month, according to data provided by S&P Global Market Intelligence. Investors cheered the online retailer's new joint venture, which aims to create a trading market for blockchain-based digital tokens.
Overstock's tZERO subsidiary will partner with investment bank Argon Group and financial services firm RenGen LLC on the venture. Together, they plan to launch the first SEC- and FINRA-compliant Alternative Trading System for security tokens issued in Initial Coin Offerings (ICOs).
In its press release, Overstock noted that ICOs have raised more than $2 billion so far this year, demonstrating the rapid growth of this emerging asset class.
Source: Fool.com
Overstock.com Aktie
8,92 €
3,52 %
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