What's Going On With Overstock.com Stock?

Overstock.Com, Inc. OSTK shares are moving higher Friday though the stock remains down by more than 30% over the last month.

What To Know:

According to SEC filings, Overstock director Marcus Lemonis purchased 31,800 shares at a weighted average price of $15.67 and 33,000 shares at an average price of $14.94 this week.

Marcus Lemonis was recently appointed as director of the board, effective Oct. 2.

"As a CEO of a publicly traded company, he brings a wealth of experience in leadership, retail, branding and customer engagement that will complement the current board's strengths and position the company for growth and success," said Allison Abraham, current chairwoman of Overstock's board.

Overstock.com shares have attracted the attention of retail investors and short-sellers alike. The stock is currently one of the top trending tickers on Stocktwits and Yahoo! Finance, and 11.88% of shares of being sold short, according to data from Benzinga Pro.

Shares of OSTK are trading on heavy volume Friday. According to data from Benzinga Pro, more than 2.8 million shares have been traded in the session, already exceeding the stock's 100-day average of 2.346 million shares.

OSTK Price Action: According to Benzinga Pro, Overstock.com shares are up 12% at $17.66 at the time of publication.

Image: Coffee Bean from Pixabay

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