Benzinga | Sep 15, 2020 02:23PM EDT

Why Overstock Is Trading Lower Today

Overstock.com, Inc. (NASDAQ:OSTK) shares are trading lower on Tuesday, potentially selling off from Monday strength after Needham initiated coverage on the stock with a Buy rating and announced a $96 price target.

Overstock.com is a U.S-based online retailer that provides products and services through websites. The company offers a broad range of products, including furniture and home decor, jewelry, watches, apparel and accessories, BMMG (like books, magazines, CDs), electronics, and other items. The home and garden product line accounts for a material part of its total revenue.

The company operates through direct business that makes sales from the company's own inventory, and partner business that sells merchandise from manufacturers, distributors and other suppliers through the company's websites.

Overstock.com shares were trading down 5.35% at $71.68 on Tuesday during the time of publication. The stock has a 52-week high of $128.50 and a 52-week low of $2.53.