Last week was another tumultuous one – we made it, barely.
But the ups and downs the market's experiencing almost pale in comparison to what's been happening to one online retailer who's been feeling the heat.
I'm talking about Overstock.com Inc. (Nasdaq: OSTK).
The stock took off last October and has since been on its own roller-coaster ride.
Shares spiraled downward 25.2% the second week in March. As of January, the stock's down almost 50%. It tried to bounce and failed, tried again, and failed, tried again, and is failing.
The news on Overstock.com isn't good.
Between rapidly declining revenue, down nearly $25 million before taxes, and their low sales relative to competitors like Wayfair Inc. (NYSE: W) and Amazon.com Inc. (Nasdaq: AMZN), Overstock.com could be headed into a brick wall.
That's just the on-the-surface news. There's something darker going on behind the curtain.