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Overstock, Rackspace, Nvidia: Midday Tech Stock Movers

Stocks were in mixed territory on Monday amid a continuing stalemate on a COVID-19 relief package and U.S.-China trade tensions, but the tech-heavy Nasdaq edged higher. Shares of Overstock skyrocketed 22% to $113.59 after Piper Sandler analyst Peter Keith initiated coverage of the e-commerce firm with an Overweight rating and $140 price target, citing "seismic forces at work that have dramatically improved the sales and profitability outlook" for Overstock. The business underwent a management change last year and refocused on home furnishings. Read More...

Stocks were in mixed territory on Monday amid a continuing stalemate on a COVID-19 relief package and U.S.-China trade tensions, but the tech-heavy Nasdaq edged higher. Shares of Overstock skyrocketed 22% to $113.59 after Piper Sandler analyst Peter Keith initiated coverage of the e-commerce firm with an Overweight rating and $140 price target, citing “seismic forces at work that have dramatically improved the sales and profitability outlook” for Overstock. The business underwent a management change last year and refocused on home furnishings.

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