Retail

Overstock shares rally since March, and trader sees more upside

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E-commerce stocks have roared higher off the March lows.

Wayfair, Stitch Fix, Etsy and Chewy have rallied triple digits since the market trough four months ago. Overstock, the biggest mover, has skyrocketed 2,058% since its own bottom. These stocks have been hot commodities as the stay-at-home trade benefited from pandemic-related lockdowns and quarantines.

Danielle Shay, director of options at Simpler Trading, said Overstock and its high-flying e-commerce peers have more upside.

“The hype is exactly what makes them great, especially for short-term momentum traders like myself,” Shay told CNBC’s “Trading Nation” on Monday. “My favorite part about them is that they have high short interest,…



Source cnbc.com

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