Why Overstock Is Trading Higher Today

Overstock.com, Inc. OSTK shares are trading higher on Friday.

The Delaware Supreme Court recently ruled in favor of Overstock.com, in its gift card escheatment appeal. The 5-0 decision by the Delaware Supreme Court reversed the lower Delaware Superior Court's judgment for $8.6 million against Overstock.

Overstock.com is a U.S-based online retailer that provides products and services through websites. The company offers a broad range of products, including furniture and home decor, jewelry, watches, apparel and accessories, BMMG (like books, magazines, CDs), electronics, and other items. The home and garden product line accounts for a material part of its total revenue.

The company operates through direct business that makes sales from the company's own inventory, and partner business that sells merchandise from manufacturers, distributors and other suppliers through the company's websites.

Overstock shares were trading up 7.85% at $48.72 on Friday. The stock has a 52-week high of $50.65 and a 52-week low of $2.53.