OSTK Stock Slumps 15% on Revised Retail Sales for 2019

OSTK stock

OSTK stock is one of the biggest losers on Monday after Overstock.com Inc (NASDAQ:OSTK) lowered its retail guidance for the full year.

Weak Outlook and New CEO

When companies make major announcements before the markets open, then the market almost always reacts one way or another. It goes without saying that the nature of the announcement is also important and that is what has happened with the Overstock this morning. In a new development, retail firm Overstock announced a new Chief Executive Officer and, in addition to that, cut down its guidance for retail sales for ...

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