By Dean Seal
Shares of Overstock.com fell to a three-year low in early trading but then bounced back after JAT Capital Management disclosed a 9.1% stake in the online discount retailer.
The stock slipped to a low of $14.68 in early trading but climbed after the disclosure was made around 10 a.m. ET. Shares were up 9% at $16.38 at around noon. They are still down 15% year-to-date.
The investment firm JAT and its managing member John Thaler said they had about 4.1 million shares of Overstock.
The firm's private fund, JAT Capital Master Fund LP, has 1.1 million shares, representing a 2.5% stake, according to the filing.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 16, 2023 12:20 ET (16:20 GMT)
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