Target has been crushed by a boycott, losing billions of dollars in value over the last month. That may be because of problems with having large physical stores as much as politics.
So check out this online only competitor instead:
Overstock.com
NASDAQ: OSTK
Overstock.com is a popular online retailer in the United States that sells a wide variety of products. You can find everything from furniture and home decor to electronics, jewelry, and clothing on their website. It’s like a virtual store where you can browse and buy items without leaving your home.
The company started back in 1999 and was founded by Patrick M. Byrne.
At first, they focused on selling discounted surplus and returned merchandise, but they’ve expanded their inventory over time. Now, they not only sell their own products but also feature items from other sellers.
One cool thing about Overstock.com is that they were one of the first big retailers to accept Bitcoin, a digital currency, as a form of payment. They’ve also been involved in exploring blockchain technology and cryptocurrencies through their subsidiary called Medici Ventures.
Due to its unconventional founder and lack of physical real estate risk, this could be an exciting alternative to Target.
The stock began to rise earlier this year thanks to beating earning expectations, but as its big competitors like Target get into trouble, we think it could have a lot more room to rise.
