Overstock (OSTK +23.5%) skyrockets after reporting Q1 revenue of $312M (+19% Y/Y) and EPS of...


Overstock (OSTK +23.5%) skyrockets after reporting Q1 revenue of $312M (+19% Y/Y) and EPS of $0.32; that soundly beats estimates of $282.3M and $0.15 from the one analyst covering the company. Gross margin rose 80 bps Y/Y to 18.9%, sales/marketing spend 29% to $18.7M, and G&A/technology spend 9% to $33.2M. CC at 11:30AM ET (webcast). 31.3% of the float was shorted as of March 28; it looks like a lot of those shorts are covering today.

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