Overstock.com CEO defends sale of shares

|About: Overstock.com, Inc. (OSTK)|By:, SA News Editor

Overstock.com (NASDAQ:OSTK) CEO Patrick Byrne maintains that he told shareholders a year ago that he would sell shares to fund different projects after

"I simply had to supplement my nominal salary with stock sales in order to fulfill personal commitments to invest personally in blockchain projects such as Medici Land Governance, along with a need to meet charitable pledges," writes Byrne amid some questions from shareholders.

Overstock.com fell 7% yesterday and is down 73% over the last 52 weeks. In premarket action today, OSTK is showing a 2.22% gain.

Previously: Multi-year low for Overstock.com after CEO sells shares (May 15)

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