The investor who successfully predicted that FTX would collapse: This stock has huge potential

By    26 Nov,2022

Marc Cohodes, who predicted the collapse of the FTX exchange, recently said in an interview that he is highly bullish on Overstock.com (NASDAQ:OSTK), an e-commerce company focused on inventory products.

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He said that Overstock.com's two competitors, Wayfair (NYSE:W) and Helen of Troy Ltd (NASDAQ:HELE), are overleveraged. As the economy weakens and debt-ridden Wayfair and Helen of Troy pull back, Overstock.com, which has little debt load, is expected to expand its market segmentation. As a result, Marc Cohodes is also short Wayfair and Helen of Troy.


Marc Cohodes also believes that Overstock.com has the potential to be acquired. He notes that Overstock.com has a market cap of just $1 billion, and doesn't rule out the possibility that a large company like Target (NYSE:TGT) will buy Overstock's discount retail business outright someday.


In addition to Overstock's discount retail business, Marc Cohodes is also very bullish on Overstock's tZERO business, despite signs of a slowdown.


Marc Cohodes believes that some investors may be turning their attention to tZERO as cryptocurrency trading company FTX loses investor confidence. tZERO is a subsidiary of Overstock and a platform designed to help people issue NFLs, pass-throughs/tokens (Tokens).

Earlier this year, former Intercontinental Exchange (NYSE:ICE) executive David Goone took over as CEO of tZERO. in response, Marc Cohodes noted that David Goone gave up his $5 million annual salary at ICE in exchange for compensation consisting mostly of equity in tZERO, which has also become a significant small shareholder.


Marc Cohodes believes tZERO itself could be worth $5 to $15 billion.


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