Benzinga | Aug 24, 2020 03:09PM EDT

Why Overstock Is Trading Lower Today

Overstock.com (NASDAQ:OSTK) shares are trading lower on Monday, selling off from recent strength.

The slowdown in the number of U.S. coronavirus cases and treatment optimism are also a potential negative catalyst for e-commerce names.

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 shares were trading down 5.17% at $114.84 on Monday during the time of publication. The stock has a 52-week high of $128.50 and a 52-week low of $2.53.