It is safe to say that with a year-to-date gain of 76%, Overstock (OSTK) investors are a happy bunch right now. However, the online retailer’s July performance has so far been relatively weak, with the stock down by 8% since the start of the month. Needham’s Anna Andreeva puts the soft display down to “credit card data noise, Home & Furnishings sales deceleration in June and profit taking ahead of 2Q21.” Overstock is due to report second quarter earnings next Thursday (July 29) and the analyst believes the buy-side is “bracing for a sales miss for 2Q21 and a soft guide for 3Q21.
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Overstock com (NASDAQ:OSTK)
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