Overstock raises $40M more in a stock sale
I’m sure that this can’t be a good sign of the company’s overall health. They disclosed in their press release that they will be using the money for:
general corporate purposes and working capital requirements, including sales and marketing activities and inventory purchases.
I wonder how much longer they’re going to be able to get money from the public markets. They sold these shares for $14.63 and it lifted the common shares from about $15 to $16.50 so apparently there is still some confidence in the future of overstock.
4:42 pm
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