This Activist Investor Got Beyond's CEO Fired, but That Was Just the Start

A lot is going on at Beyond (NYSE: BYON), which used to be known as Overstock.com and is the parent company of Bed Bath Beyond. The headline-grabbing story at the moment is that JAT Capital is waging a very open fight with the company that resulted in CEO Jonathan Johnson being fired.

Despite the change in leadership, the activist investor is still not happy and investors need to understand that there's more to this drama than meets the eye. Also, the drama applies to more than just Beyond.

To understand the situation at the company now known as Beyond, you need to go back to the point where it was known as Overstock.com. When the company was founded, it mostly sold discounted goods that it sourced from other retailers, or overstocked items. To get rid of the inventory, retailers sold it to Overstock.com at a steep discount and Overstock then passed on a portion of the savings to its online customers (pocketing the remainder as revenue).

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Source Fool.com