Overstock.com drops 10% after revealing SEC investigation into cryptocurrency token sale

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A United Parcel Carrier Inc. (UPS) employee loads orders onto a truck in the transport discipline on the Overstock.com Inc. distribution heart in Salt Lake Metropolis, Utah.










Ken James | Bloomberg | Getty Pictures

A United Parcel Carrier Inc. (UPS) employee loads orders onto a truck in the transport discipline on the Overstock.com Inc. distribution heart in Salt Lake Metropolis, Utah.

Shares of Overstock.com dropped greater than 10 percent in pre-market shopping and selling Thursday after the e-commerce retailer that’s developed cryprocurrency operations in the closing year disclosed that the Securities and Alternate Price is investigating the company over digital tokens.

Overstock.com’s subsidiary tZero is elevating $250 million by a token sale and is launching a digital token substitute. The firm says it has a license for yet every other shopping and selling system by yet every other acquisition.

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