When in doubt, zoom out
Q2 results where fantastic for Overstock, however the price dropped significantly (price action dominates in the short term). I believe this is due to the corrective structure of OSTK: we are likely in a wave 4, and starting to push for a wave 5 any time soon.
Fundamentally, OSTK is significantly undervalued, mainly because of its crypto platform tZERO. Crypto is not a joke anymore: we have seen institutional investors starting to pour money into Bitcoin, Ethereum and NFTs this year.
I believe that businesses like tZERO are going to scale like crazy in the next 3-5 years. If the management executes its plan properly, I see OSTK being worth 2x-4x of its current price a year from now.
Disclaimer: this is not financial advice. I'm an amateur investor. Trade at your own risk.
Fundamentally, OSTK is significantly undervalued, mainly because of its crypto platform tZERO. Crypto is not a joke anymore: we have seen institutional investors starting to pour money into Bitcoin, Ethereum and NFTs this year.
I believe that businesses like tZERO are going to scale like crazy in the next 3-5 years. If the management executes its plan properly, I see OSTK being worth 2x-4x of its current price a year from now.
Disclaimer: this is not financial advice. I'm an amateur investor. Trade at your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.