December 16, 2005
SpeculatingStocks.com Stock Pick: Overstock.com, Inc. (OSTK)
Stock Price: $36.76 (short-term strong buy)
Overstock.com, Inc. is an online closeout retailer, offering discount, brand-name merchandise for sale over the Internet. Overstock.com has a direct business in which it buys and takes possession of excess inventory for resale. Overstock.com has similar merchandise offerings as Amazon.com.
Its the Christmas season and that means good times for online retailers like Amazon.com and Overstock.com. Amazon.com has been moving up since summer while Overstock.com has been holding in the same range. Most of the prices on Overstock.com are lower than Amazon.com and it will only be a matter of time before online shoppers realize this fact.
OSTK has started a new level after moving off the $32 threshold. The Christmas season should contain nice surprises for OSTK.
SpeculatingStocks.com Target Price: We expect OSTK to reach $45 within the next 1-2 months.