5 years ago
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Overstock surges 26% after CEO says it will sell retail business by February to focus on crypto
Overstock plans to sell its decades-old retail business in the next few months to make way for a full-blown bet on blockchain. The previously announced sale plans could go through as soon as February, the company's CEO told The Wall Street Journal in a report published Friday. Overstock founder and CEO Patrick Byrne — an ardent believer in the technology that underpins bitcoin and other cryptocurrencies — declined to name any of the potential buyers.
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https://www.cnbc.com
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Overstock loses two-thirds of its value since the beginning of the year, announces it'll quit the business it's in weeks ago, in exchange for magic beans, and suddenly this is widely seen as a good move? I guess it is that time of year. It's a blockchain hype miracle!