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Why Overstock Shares Jumped Today

TheMotleyFool

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Shares of Overstock (NASDAQ: OSTK) have jumped today, up by 8% as of 1:45 p.m. EDT, after the company said that its tZERO ATS cryptocurrency trading platform saw record engagement last month. The e-commerce company is betting big on its expansion into blockchain-based digital securities.

Following the distribution of a digital dividend to Overstock shareholders last month, tZERO saw transactions in May jump by fourfold to 423,000. Transaction volumes have increased by almost 50% year to date through May, according to Overstock. tZERO ATS represented over 95% of all security-token volume transactions in May.

Image source: Getty Images.

Source Fool.com

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