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Why Overstock.com Shares Soared Today

TheMotleyFool

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Shares of Overstock.com (NASDAQ: OSTK) surged 22.8% on Wednesday after the e-commerce company announced that a financial exchange titan had made a strategic investment in its fledgling digital-asset trading platform.

Intercontinental Exchange (NYSE: ICE), parent of the New York Stock Exchange, is taking an equity stake in tZERO, a digital security marketplace for which Overstock.com is the majority owner.

Terms of the deal were not disclosed, though Intercontinental Exchange (ICE) said it will become "a significant minority shareholder" in tZERO.

Source Fool.com

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