Overstock.com Inc (NASDAQ:OSTK) shares continued to fall Thursday after an SEC filing Wednesday revealed that its CEO sold 500,000 shares of stock this week.
Patrick Byrne unloaded the shares in a series of transactions at prices between $12.40 and $13.91 apiece. The news drove the stock more than 15% lower Wednesday, closing at $10.87.
READ: Online discount retailer Overstock.com drops on disappointing 4Q results
Shares of the e-commerce retailer have continued to fall Thursday, sliding another 5.5% to $10.27.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel