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Stock Market & Financial Investment News

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August 14, 2014
06:32 EDTOSTKOverstock CEO says Bitcoin sales averaging $15K/day, Business Insider reports
Overstock.com CEO Patrick Byrne says the average daily Bitcoin sales clip recently reached $15,000 per day, or $300,000 per month, Business Insider reports. Byrne confirmed that Bitcoin sales have exceeded $2M since the company began accepting the currency in January, and believes Bitcoin revenue will account for 4c in EPS for the year on $8M in total sales. Reference Link
News For OSTK From The Last 14 Days
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March 25, 2015
17:14 EDTOSTKOverstock.com continues to fight for patent litigation reform
The general counsel for Overstock.com testified in Washington, D.C. at a hearing on Patent Reform: Protecting American Innovators and Job Creators from Abusive Patent Litigation. Congressman Bob Goodlatte, R-Va., chairman of the House Judiciary Committee, invited Mark Griffin, senior vice president and general counsel of Overstock.com, to make a statement before the Subcommittee on Courts, Intellectual Property and the Internet at 10 a.m. ET. Griffin explained the issues that online shopping site, Overstock.com, has experienced in its history of fighting patent troll suits. He provided detail on the many victories won and the costs of those successes. "The only people who benefit from frivolous patent litigation are the trolls and their lawyers, and that benefit is not enumerated among the original aims of our patent system," Griffin said. Griffin added that Overstock.com requests the pleading standards in patent litigation be raised, determinations be made between those selling the alleged infringing products and those manufacturing the products, a better discovery process with reasonable cost constraints, as well as better cost-shifting options for judges. "This subject continues to get a lot of attention," said Griffin. "It is a crippling problem and a solution needs to finally be agreed upon." Overstock.com has regularly praised Utah's senators, Orrin Hatch and Mike Lee, and other likeminded senators and House members in this fight.
08:43 EDTOSTKHouse Judiciary Committee to hold a hearing
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