porcupine Posted January 8, 2019 Share Posted January 8, 2019 Any news here? Stock is up around 12.5% from last Friday's close. Could this speculation related to MEMX? Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted March 1, 2019 Share Posted March 1, 2019 The saga continues..... https://www.sec.gov/Archives/edgar/data/1130713/000113071319000009/pressrelease2.htm Your humble servant, Foreign Tuffett Link to comment Share on other sites More sharing options...
OracleofCarolina Posted May 15, 2019 Share Posted May 15, 2019 any bulls left?? Looks like the CEO is selling more shares! Link to comment Share on other sites More sharing options...
Spekulatius Posted May 15, 2019 Share Posted May 15, 2019 Investment in tZERO common stock - now that sounds really promising. Link to comment Share on other sites More sharing options...
mwtorock Posted May 16, 2019 Share Posted May 16, 2019 any bulls left?? Looks like the CEO is selling more shares! Not a bull for a long time now, but at these levels you ought to think there are some values left in there. the main concern is they are running out of cash by the way they burning it into crypo start-ups, and by now everyone probably lost faith in what patrick says. but i would probably take another look to see what they have in terms of bitcoins, gold, buildings, etc. Link to comment Share on other sites More sharing options...
Cevian Posted May 16, 2019 Share Posted May 16, 2019 Investors have lost confidence based on Patrick's latest selling of shares. He explained his previous sales earlier this year but this one took investors by surprise, especially at these prices. He's basically bet the farm on blockchain/crypto Link to comment Share on other sites More sharing options...
Sportgamma Posted May 16, 2019 Share Posted May 16, 2019 but this one took investors by surprise, especially at these prices. Well, margin calls tend to come when prices are depressed. Link to comment Share on other sites More sharing options...
mwtorock Posted May 17, 2019 Share Posted May 17, 2019 https://seekingalpha.com/pr/17516577-overstock-com-ceo-patrick-byrne-issues-statement-recent-sale-personal-shares-overstock-com there you go... Link to comment Share on other sites More sharing options...
given2invest Posted May 17, 2019 Share Posted May 17, 2019 Yah, that should end all the controversy. ;D Link to comment Share on other sites More sharing options...
Cevian Posted June 12, 2019 Share Posted June 12, 2019 Good blog post today: https://fundamentalfinanceplaybook.com/2019/06/11/overstock-retail-value-and-risk-factors I hadn't thought of the perspective that maybe Patrick Byrne sold his shares as a result of a margin call. My biggest beef with Byrne is that he's basically "bet the farm" on Blockchain and Crypto. I do agree with him that Blockchain will have a major impact on many aspects of how things are done in the future, but I would never "go all in". He's put himself and the Company in a vulnerable position. Link to comment Share on other sites More sharing options...
mwtorock Posted June 12, 2019 Share Posted June 12, 2019 Good blog post today: https://fundamentalfinanceplaybook.com/2019/06/11/overstock-retail-value-and-risk-factors I hadn't thought of the perspective that maybe Patrick Byrne sold his shares as a result of a margin call. My biggest beef with Byrne is that he's basically "bet the farm" on Blockchain and Crypto. I do agree with him that Blockchain will have a major impact on many aspects of how things are done in the future, but I would never "go all in". He's put himself and the Company in a vulnerable position. the part i dont agree is the sale of retail business. it does not make sense to assign a 700m plus value to it unless there is evidence of demand in the market place. walmart and target have got their online business figured out, so they dont really need to buy a online furniture retailer. Smaller players might be interested, but 700m purchase would be a life or death decision for most of them. Take BBBY for example, maybe they can do a deal and get a lot of synergies, but 700m is half of their market cap, and their CEO just got fired in Q1. It is going to be very hard for any CEO of the small retailers to stick their neck out for OSTK. Link to comment Share on other sites More sharing options...
Sportgamma Posted June 12, 2019 Share Posted June 12, 2019 Good blog post today: https://fundamentalfinanceplaybook.com/2019/06/11/overstock-retail-value-and-risk-factors I hadn't thought of the perspective that maybe Patrick Byrne sold his shares as a result of a margin call. My biggest beef with Byrne is that he's basically "bet the farm" on Blockchain and Crypto. I do agree with him that Blockchain will have a major impact on many aspects of how things are done in the future, but I would never "go all in". He's put himself and the Company in a vulnerable position. the part i dont agree is the sale of retail business. it does not make sense to assign a 700m plus value to it unless there is evidence of demand in the market place. walmart and target have got their online business figured out, so they dont really need to buy a online furniture retailer. Smaller players might be interested, but 700m purchase would be a life or death decision for most of them. Take BBBY for example, maybe they can do a deal and get a lot of synergies, but 700m is half of their market cap, and their CEO just got fired in Q1. It is going to be very hard for any CEO of the small retailers to stick their neck out for OSTK. I have a different view on this and I think Walmart is actually a great example. In recent years, I think, there has been a fundamental change in how (big) retailers approach the transition to online. At some point, the retailers realized that online is fundamentally different than brick and mortar. Instead of trying to build the online version of their conventional business model, online offers the possibility of building fundamentally different sales funnels (plural, nb). Walmart is, in my opinion, a pioneer in this new approach. This is what Walmart has acquired over the last years: Jet.com in 2014 Hayneedle in 2016 (through jet.com, b.t.w. this is actually an online furniture retailer.... $350m-ish in annual rev) ModCloth in 2017 (through jet.com) Moosejaw in 2017 Bonobos in 2017 shoes.com in 2017 Fliipkart in 2018 Bare Necessities in 2018 Eloquii in 2018 Art.com in 2018 It's a pretty eclectic collection of assets that, aside from jet.com, don't seem to have much to do with the conventional Walmart business model. I think Walmart realized that they could take their super-efficient logistical network and value chains and plug all sorts of different "storefronts" into it, each with their own value proposition towards the clientele they serve. In the conventional retail model, the game was to replicate the same store concept at different scales. In the online model, you find a store/business model/sales channel that is serving a particular niche and plug that into your backend. It's a totally different ball game. So, I actually think that Overstock.com would be a pretty interesting option for Wallmart/jet.com as it would probably be cheaper to buy the demand that is flowing through Overstock than trying to build Hayneedle organically to surpas Overstock and even Wayfair. I would also say that there are plenty of big retailers that have at least some overlap with the target audience of Overstock. Costco, TJX companies? With overstock.com you get about 20m in website visits a month. QVC bought Zulily.com in 2015 for $2.4b. Zulily hit $1.6m in revenue in 2018. Currently, zulily.com gets about 22 million visits a month. QVC.com gets about 23m. Target.com, to take another example, gets about 105m visits a month, so overstock.com is about 20% of that. It would be about 6.5% of walmart.com. Jet.com gets about 3.1m. From the standpoint of capturing demand, it's actually very hard to build what Overstock has built. Especially in terms of generating organic traffic through search engines. With a domain authority of 88, Overstock.com is probably in the top 1000 by that measure. Link to comment Share on other sites More sharing options...
Sportgamma Posted July 8, 2019 Share Posted July 8, 2019 https://searchengineland.com/ux-content-and-other-secrets-to-overstocks-seo-turnaround-318958 Link to comment Share on other sites More sharing options...
spark411 Posted July 16, 2019 Share Posted July 16, 2019 https://investors.overstock.com/news-releases/news-release-details/overstockcom-releases-letter-shareholders-ceo-patrick-m-byrne RE: Retail business Seems that Byrne has 2 alternatives. 1. Sell the retail business 2. Keep the retail business and use profits to fund Medici. If the offers for #1 is low, then he will go to #2. This seems rational vs. selling the retail business below market. Anyone have thoughts? Link to comment Share on other sites More sharing options...
lessthaniv Posted August 13, 2019 Share Posted August 13, 2019 July 26th article by Sara Carter; https://saraacarter.com/russia-probe-twist-a-billion-dollar-ceo-a-convicted-russian-agent-and-the-fbi/ August 12th article by Sara Carter; https://saraacarter.com/overstock-ceo-turned-over-docs-to-doj-on-fbis-russian-and-hillary-clinton-probes/ OSTK Press release today; OVERSTOCK COM INC DEL Symbol U : OSTK Recent Sedar Documents Overstock.com CEO Comments on Deep State, Withholds Further Comment 2019-08-12 19:04 ET - News Release SALT LAKE CITY, Aug. 12, 2019 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) CEO Patrick M. Byrne has released the following statement: “Sara Carter has published two articles relating the following claims of mine: Starting in 2015 I (operating under the belief that I was helping legitimate law enforcement efforts) assisted in what are now known as the ‘Clinton Investigation’ and the ‘Russian Investigation’ (in fact, I am the notorious ‘missing Chapter 1’ of the Russian investigation). It was the third time in my life I helped the Men in Black: the first was when my friend Brian Williams was murdered, and the second was when I helped the M.I.B. shake up Wall Street a decade ago. Unfortunately, this third time turned out to be less about law enforcement and more about political espionage conducted against Hillary Clinton and Donald Trump (and to a lesser degree, Marco Rubio and Ted Cruz). In July 2018 I put the pieces together. I immediately (last July) came forward to a Congressman and a senior military officer, to the Department of Justice this April, and (upon my Omaha Rabbi reminding me of my duty as a citizen late this June) to a small set of journalists this summer. Ms. Carter was among them. Her two stories are accurate. Having confirmed Ms. Carter’s two articles, I have fulfilled those citizenship obligations of which my Rabbi reminded me. I will speak no more on the subject. Instead, having lived in places lacking Rule of Law and having witnessed the consequences of its absence, I plan on sitting back and watching the United States Department of Justice re-establish Rule of Law in our country.” Link to comment Share on other sites More sharing options...
lessthaniv Posted August 13, 2019 Share Posted August 13, 2019 July 26th article by Sara Carter; https://saraacarter.com/russia-probe-twist-a-billion-dollar-ceo-a-convicted-russian-agent-and-the-fbi/ August 12th article by Sara Carter; https://saraacarter.com/overstock-ceo-turned-over-docs-to-doj-on-fbis-russian-and-hillary-clinton-probes/ OSTK Press release today; OVERSTOCK COM INC DEL Symbol U : OSTK Recent Sedar Documents Overstock.com CEO Comments on Deep State, Withholds Further Comment 2019-08-12 19:04 ET - News Release SALT LAKE CITY, Aug. 12, 2019 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) CEO Patrick M. Byrne has released the following statement: “Sara Carter has published two articles relating the following claims of mine: Starting in 2015 I (operating under the belief that I was helping legitimate law enforcement efforts) assisted in what are now known as the ‘Clinton Investigation’ and the ‘Russian Investigation’ (in fact, I am the notorious ‘missing Chapter 1’ of the Russian investigation). It was the third time in my life I helped the Men in Black: the first was when my friend Brian Williams was murdered, and the second was when I helped the M.I.B. shake up Wall Street a decade ago. Unfortunately, this third time turned out to be less about law enforcement and more about political espionage conducted against Hillary Clinton and Donald Trump (and to a lesser degree, Marco Rubio and Ted Cruz). In July 2018 I put the pieces together. I immediately (last July) came forward to a Congressman and a senior military officer, to the Department of Justice this April, and (upon my Omaha Rabbi reminding me of my duty as a citizen late this June) to a small set of journalists this summer. Ms. Carter was among them. Her two stories are accurate. Having confirmed Ms. Carter’s two articles, I have fulfilled those citizenship obligations of which my Rabbi reminded me. I will speak no more on the subject. Instead, having lived in places lacking Rule of Law and having witnessed the consequences of its absence, I plan on sitting back and watching the United States Department of Justice re-establish Rule of Law in our country.” Patrick gets it. And looks like his Omaha Rabbi does too. Link to comment Share on other sites More sharing options...
mwtorock Posted August 13, 2019 Share Posted August 13, 2019 i can totally see a netflix show starring Patrick -- house of cards? Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted August 13, 2019 Share Posted August 13, 2019 Look like Mangrove Partners is short OSTK, and just published a Seeking Alpha article laying out thesis. https://seekingalpha.com/article/4284963-overstock-negative-reality-lurks-just-around-corner-short-90-percent-downside https://twitter.com/alpha_exposure/status/1161266580694679552 Disclosure: I am short OSTK. No affiliation with Mangrove whatsoever. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted August 13, 2019 Share Posted August 13, 2019 Look like Mangrove Partners is short OSTK, and just published a Seeking Alpha article laying out thesis. https://seekingalpha.com/article/4284963-overstock-negative-reality-lurks-just-around-corner-short-90-percent-downside https://twitter.com/alpha_exposure/status/1161266580694679552 Disclosure: I am short OSTK. No affiliation with Mangrove whatsoever. Took advantage of the significant downside move to cover my short. I wish all my trades worked out as quickly (and as well) as this one. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted August 22, 2019 Share Posted August 22, 2019 What the heck is going on with this company? Anybody have the cliff notes of the recent issues regarding CEO? Not sure I followed what his involvement in the investigation was, why that's a negative for Overstock, or why he is now stepping down. I don't own a stake, but have been watching it out of curiosity. Link to comment Share on other sites More sharing options...
Peregrine Posted August 22, 2019 Share Posted August 22, 2019 Bryne just seems like a complete nutcase. Edit: I added the word 'complete' https://www.ft.com/content/67d0c21a-c373-11e9-a8e9-296ca66511c9 Link to comment Share on other sites More sharing options...
rkbabang Posted August 22, 2019 Share Posted August 22, 2019 What the heck is going on with this company? Anybody have the cliff notes of the recent issues regarding CEO? Not sure I followed what his involvement in the investigation was, why that's a negative for Overstock, or why he is now stepping down. I don't own a stake, but have been watching it out of curiosity. I'm not sure. "In a statement, he referred to federal agents as the “Men in Black” and said he assisted in investigations related to the Clintons and Russian interference. In an interview with The New York Times, Byrne claimed he was romantically involved with Maria Butina, the Russian operative who used her NRA activism to infiltrate American politics. She was later sentenced to 18 months in prison. " https://www.cnbc.com/2019/08/22/overstock-ceo-patrick-byrne-resigns-following-deep-state-comments.html I sold the vast majority of my shares up near $50 and held a small position after that, but I just sold the rest today. I was invested largely because of Byrne, I'm not going to wait around to see what the next CEO does. Link to comment Share on other sites More sharing options...
Gregmal Posted August 22, 2019 Share Posted August 22, 2019 Just my opinion; Byrne is quirky, but also quite bright and well connected. But people needed excuses for why this went from $70 to $10 and rather than acknowledge it was a piece of shit that didn't below there in the first place, they blamed Byrne. Waiting for them to bring in a "crypto expert" to run this. Whatever that means... Link to comment Share on other sites More sharing options...
Liberty Posted August 22, 2019 Share Posted August 22, 2019 I'm sure he'll now have more time to go hang out with John McAfee... https://investors.overstock.com/news-releases/news-release-details/overstock-ceo-patrick-m-byrne-resigns Link to comment Share on other sites More sharing options...
rkbabang Posted August 22, 2019 Share Posted August 22, 2019 I'm sure he'll now have more time to go hang out with John McAfee... https://investors.overstock.com/news-releases/news-release-details/overstock-ceo-patrick-m-byrne-resigns I wouldn't want to be Mcafee right about now: https://jacobedawson.github.io/dickening/ Link to comment Share on other sites More sharing options...
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