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Why Overstock Shares Were Down This Week

TheMotleyFool

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Why Overstock Shares Were Down This Week: https://g.foolcdn.com/editorial/images/707834/woman-texting-on-phone.jpg

Overstock (NASDAQ: OSTK) investors trailed a declining market this week. Shares dropped 15% through Thursday trading, according to data provided by S&P Global Market Intelligence. The S&P 500 dropped 4.6% in that time.

The slump added to big declines for the e-commerce giant, which also makes aggressive bets on blockchain platforms. Overstock's shares are down over 70% so far in 2022.

This latest decline came as investors worried that the poor selling conditions which contributed to weak results in Q3 will exert an even bigger pressure on the chain's holiday season quarter.

Source Fool.com

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