Why Overstock Parent Beyond Shares Are Rising Today

Beyond, Inc. BYON shares are trading higher on Wednesday.

The company announced a partnership with X, formerly known as Twitter, to deliver custom short and long-form content, develop customer acquisition and retention strategies, and spotlight the companies’ brands on key tent-pole events and holidays.

“We are thrilled to be an integrated partner with X as they help us engage more effectively across their 100 million plus U.S. users with both creative content and brand-specific promotional messaging,” said Marcus Lemonis, Executive Chairman.

Beyond is the parent company of Overstock, Bed Bath & Beyond, Zulily, and a gallery of other brands, all serving homeowners and renters in America.

“We recognize the power of the X platform and level of engagement users have with it,” Lemonis added.

Earlier this month, the company was in the headlines for acquiring the intellectual property and other brand assets of Zulily, the flash sale and e-commerce retailer. 

The deal further strengthens Beyond’s position in the off-price market, enhancing customer value for the products they’re looking for. 

The addition of Zulily will complement Beyond’s suite of brands, including Overstock, which is scheduled to relaunch later this month.

The new Zulily site is expected to be fully functional by the end of the second quarter of 2024 and contribute to Beyond’s 24-month revenue goal without adding additional incremental fixed expenses.

According to Benzinga Pro, BYON stock has gained over 88% in the past year. Investors can gain exposure to the stock via Amplify Transformational Data Sharing ETF BLOK and ProShares Online Retail ETF ONLN.

Price Action: BYON shares are trading higher by 2.28% to $36.33 on the last check Wednesday.