Q2 results where fantastic for Overstock, however the price dropped significantly (price action dominates in the short term). I believe this is due to the corrective structure of OSTK: we are likely in a wave 4, and starting to push for a wave 5 any time soon.
Fundamentally, OSTK is significantly undervalued, mainly because of its crypto platform tZERO. Crypto is not a joke anymore: we have seen institutional investors starting to pour money into Bitcoin, Ethereum and NFTs this year.
I believe that businesses like tZERO are going to scale like crazy in the next 3-5 years. If the management executes its plan properly, I see OSTK being worth 2x-4x of its current price a year from now.
Disclaimer: this is not financial advice. I'm an amateur investor. Trade at your own risk.
Fundamentally, OSTK is significantly undervalued, mainly because of its crypto platform tZERO. Crypto is not a joke anymore: we have seen institutional investors starting to pour money into Bitcoin, Ethereum and NFTs this year.
I believe that businesses like tZERO are going to scale like crazy in the next 3-5 years. If the management executes its plan properly, I see OSTK being worth 2x-4x of its current price a year from now.
Disclaimer: this is not financial advice. I'm an amateur investor. Trade at your own risk.