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Stock Alert: Overstock.com Climbs 8%

Shares of e-retailer Overstock.com, Inc. (OSTK) are rising more than 8% Friday morning. There are no company-specific news to drive the stock up today.

The highly volatile Overstock shares were at their 52-week low of $2.53 in mid-March. Currently, when it is trading at $18.01, the stock is more than 7-fold up.

On May 19, Overstock had issued a first-of-its-kind digital dividend in Series A-1 shares on a 1:10 basis to all Overstock shareholders as of the record date of April 27, 2020.

"Our retail business, which was already on track to achieve its first-quarter plan before the COVID-19 crisis hit full bore, has benefited from an increased demand for home furnishings and other key product categories from customers looking to shop from the safety of their homes. COVID-19 has altered the landscape for many. Our retail business's April sales are up over 120% year over year and that growth has occurred mainly in our key home furnishings categories," said Overstock CEO Jonathan Johnson, while reporting first-quarter earnings last month.

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