Overstock.com rises as JAT Capital seeks strategic review of non-core assets

Neighborhood Intelligence

16/10/2023 17:09

** Shares of online retailer Overstock.com  OSTK.O  rise
8.7% to $16.3
    ** JAT Capital Management in a letter to Overstock.com's
board has urged a strategic review of the company's non-core
assets, most notably its Medici portfolio
    ** The fund disclosed a 9.1% stake in Overstock.com as of
Oct. 12, as per a SEC filing on Monday
    ** JAT may consider seeking representation on the company's
board, if its recommendations are not acted upon, it said
    ** OSTK shares down 16% YTD

 (Reporting by Vedant Vinayak Vichare in Bengaluru)
 ((vedant.vinayakvichare@thomsonreuters.com))