On the date of publication, Brenden Rearick\u00a0<\/i><\/span>did not have (either directly or indirectly) any positions in the securities mentioned in this article.\u00a0<\/i>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com\u00a0Publishing Guidelines<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n
When one thinks of\u00a0Overstock<\/strong> (NASDAQ:OSTK<\/u><\/strong><\/a><\/span>), they likely don\u2019t think of cryptocurrency first. But, Overstock\u2019s relationship with crypto is a key point behind OSTK stock and its bullish catalyst today. The stock is soaring sky-high after its earnings report. However, it\u2019s the investment in its tZERO\u00a0<\/strong>crypto that\u2019s\u00a0really<\/em> got investors talking.<\/p>\n Source: Burdun Iliya \/ Shutterstock.com<\/p>\n<\/div>\n At market\u2019s close yesterday, Overstock executives delivered insight into the company\u2019s Q4 earnings<\/a>. Results were mixed in this regard. Indeed, the company posted earnings per share (EPS) of 68 cents. The EPS nearly doubled on projections from analysts. Still, the company failed to satisfy with projected revenue, with its $613 million revenue falling over $30 million short of expectations.<\/p>\n What really has investors talking, though, isn\u2019t revenue or earnings. Rather, it\u2019s news regarding Overstock\u2019s oft-forgotten tZERO crypto. The company launched tZERO in early 2018<\/a>, but after it failed to gain traction during its nearly eight-month initial coin offering (ICO), the currency actually catalyzed big losses for OSTK stock and fell into obscurity.<\/p>\n In a crypto-crazed 2022, there\u2019s always a chance for a project to mount an amazing turnaround. It looks like this week, Overstock\u2019s tZERO is the project getting back into the limelight. News of a major investment in the project is helping to lever OSTK up significantly.<\/p>\n Alongside its typical earnings report, Overstock is announcing an investment in its tZERO project by clearing house\u00a0InterContinental Exchange<\/strong> (NYSE:ICE<\/u><\/strong><\/a><\/span>). ICE, the parent company of the\u00a0New York Stock Exchange<\/strong>, is now one of the largest minority shareholders in tZERO. The full details of the investment are not being disclosed by Overstock.<\/p>\n In addition to the sweeping investment in the underdog crypto play, ICE will also be taking a significant role in the operations of the project. Indeed, ICE\u2019s Chief Strategy Officer, David Goone, will be taking on a chief executive role<\/a> for tZERO.<\/p>\n The implications of the investment are far-reaching. Of course, ICE is a huge player in the stock exchange; it operates the NYSE alongside several other global, futures and equity options exchanges. Many theorize that the investment will open the door for the company in offering tokenized stocks<\/a>, since tZERO underlies a broader alternative exchange market.<\/p>\n While investors wait for more insight into what the investment means for Overstock, OSTK stock is wasting no time in posting huge gains. The stock is gaining more than 25% immediately after the market\u2019s opening this morning. Trading volume is vastly outperforming average as well; 17 million shares are trading hands today so far against a daily average of just 1.6 million.<\/p>\n![\"Image](\"https:\/\/investorplace.com\/wp-content\/uploads\/2019\/08\/ostk-stock-1-300x169.jpg\")
<\/p>\nOSTK Stock Soars 25% on tZERO Investment News<\/h3>\n