Why Overstock.com Tanked 11.5% at the Open Today

Shares of online retailer Overstock.com (NASDAQ: OSTK) dropped a quick 11.5% on Feb. 24. The big news was earnings, which were actually higher year over year. But the real story may be higher up on the income statement.

At first blush, Overstock.com knocked it out of the park in the final quarter of 2020. Revenues were up 84% year over year. Earnings rose to $0.26 per share, a vast improvement over the loss of $0.73 per share in the final stanza of 2019. The company beat analyst expectations on both the top and bottom lines as well, though those figures include data from only three analysts. Still, it is hard to complain too much about the company's results.

Image source: Getty Images.

Source Fool.com