Shares of retailer Overstock.com surged Wednesday after news its subsidiary is joining the business of trading digital coins.
Shares of retailer Overstock.com surged Wednesday after news its subsidiary is joining the business of trading digital coins.
Shares of the online retailer of home goods and clothing shot up 23.5 percent to their highest since January 2014 and are up 65 percent for the year.
Overstock’s majority-owned subsidiary tZero, along with two financial services companies RenGen and Argon, announced Wednesday they are entering a joint venture to launch an alternative trading system for trading digital coins issued in initial coin offerings, or ICOs.
Source/More: Overstock.com says its entering digital coin trading business
