Why Overstock.com Sank 12% Today
The share price of online retailer Overstock.com (NASDAQ: OSTK) dropped 17% earlier today, before closing down just over 12%. And the reason may have nothing directly to do with the retail sector.
Overstock.com is one of the companies that has benefited from the impacts of the coronavirus pandemic. Americans who have been stuck at home have been spending money to spruce up and improve their living spaces. Like Home Depot (NYSE: HD), Lowe's (NYSE: LOW), and Target (NYSE: TGT), Overstock.com has seen sales jump during the stay-at-home phase of the pandemic.
Image source: Getty Images.
Source Fool.com
