Overstock continues its exit from retail and wants to go all in on blockchain
Overstock is making a bold transformation into a blockchain company, and efforts to sell the retail business have recently heated up, according to statements from CEO Patrick Byrne to CNN. A sale of the retail business, which is rapidly returning to profitability, would leave the e-commerce pioneer as a blockchain-focused company and with a new name. According to CNN, Overstock predicted in May that the company will make $15 million in 2019 in adjusted earnings. Byrne said he now believes that figure will be $20 million.
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