What happened Shares of online retailer Overstock.com (NASDAQ: OSTK) rose nearly 17% at one point in morning trading on Feb. 3. Although the stock had pulled back a little by 1 p.m. EST, it was still up about 13%. As has been the case lately, the move higher wasn't related to Overstock.com's retail business, but its Medici Ventures operation. So what Medici Ventures is a subsidiary that has material investments in blockchain businesses. The big news last week was that Overstock.com plans to create a partnership with Pelion Venture Partners, leaving Pelion to run the business. The completion of that deal, however, is likely months away. But that hasn't stopped Medici Ventures from continuing to expand its presence in the blockchain space. Image source: Getty Images. Specifically, the online retailer announced that Medici Ventures' tZero group has agreed to integrate technology with Vertalo, a digital transfer agent. Without getting too deep into the weeds, it appears that the deal increases the reach of both companies. And since anything blockchain gets investors excited these days, it isn't surprising that Overstock.com's shares were bid higher on the news. Now what Overstock.com's main business is selling things on the internet, a fact that it made pretty clear when it agreed to have Pelion manage the Medici business. That said, Medici is still part of Overstock.com, so you can't really separate the two. That makes Overstock.com something of a blockchain play. However, with shares up nearly 1,000% over the past year, a lot of good news is already priced in here. Investors should probably tread with caution. 10 stocks we like better than Overstock.comWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Overstock.com wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool recommends Overstock.com. The Motley Fool has a disclosure policy.Source