spark411 Posted August 22, 2019 Share Posted August 22, 2019 Here is a link to the best details I found: https://trump-russia.com/tag/patrick-byrne/ What a crazy story. Been following this stock for 10 years and been through a lot but this is over the top. From a stock price standpoint, many people thought that Byrne's unpredictable nature is what was holding this stock back. The retail group should sell for at least 1x revenue. But this stock is nowhere near that. This stock is one of the most manipulated stocks in the market so it will be interesting to see how the stock moves from here. I was really bullish on where Byrne was taking this company. As a shareholder, I have very mixed emotions about the latest news. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted August 22, 2019 Share Posted August 22, 2019 1) CEO out, effective immediately. Also gone from board AND 2) Press release announcing #1 issued in the middle of the trading day. AND 3) Former CEO leaving immediately for South America Yeah, sounds like things are going awesome. https://www.forbes.com/sites/laurendebter/2019/08/22/the-exclusive-inside-story-of-the-fall-of-overstocks-mad-king-patrick-byrne/ Link to comment Share on other sites More sharing options...
Ballinvarosig Investors Posted August 22, 2019 Author Share Posted August 22, 2019 I wonder did the board have enough and force him out. Also, could the exit of Byrne speed up a sale of the company and divestment of the crypto garbage barge? Move can only be bullish in my eyes. Link to comment Share on other sites More sharing options...
chesko182 Posted August 22, 2019 Share Posted August 22, 2019 this is a crazy Fun fact (from Forbes article): Byrne is the son of the late John “Jack” Byrne, a University of Michigan-trained mathematician and renowned insurance executive credited with turning around Geico in the mid-1970s and persuading Warren Buffett to invest in the auto insurer. Geico would eventually become one of the biggest contributors to Berkshire Hathaway’s bottom line, and Buffett once described Byrne’s father as “the Babe Ruth of insurance.” Link to comment Share on other sites More sharing options...
WneverLOSE Posted August 23, 2019 Share Posted August 23, 2019 16 minutes interview with Patrick : Can someone please explain what are his claims ? As a non American I am lost in the story... What he says Warren said doesn't sound like Buffett to me. He calls one of the interviews a fool ::) Link to comment Share on other sites More sharing options...
Parsad Posted August 23, 2019 Share Posted August 23, 2019 16 minutes interview with Patrick : Can someone please explain what are his claims ? As a non American I am lost in the story... What he says Warren said doesn't sound like Buffett to me. He calls one of the interviews a fool ::) The man is a brilliant, amazing guy, but where reality meets fiction...the line has become deeply lost...I'm not sure Patrick knows where that line is any more. If he had spent half as much energy on Overstock as he did on everything else, there would be no Wayfair.com right now, and Overstock.com would be Pepsi to Amazon's Coca-cola. Alot of the stuff that happened earlier with the hedge funds and covered in Deep Capture was real. He was getting threats up the ying-yang and was messing with alot of people that most would not. Even I was warned by a couple of people not to write about the whole Fairfax/Overstock.com/hedge fund saga...that these people were dangerous and could hurt me. The Patrick I'm watching in this interview seems dangerously close to a nervous breakdown, if not in the middle of one. I'm feeling deeply sorry for him at this moment, and his friends need to rally around him right now...regardless of the whole Deep State comments, etc. Good luck to him! I know Jonathan Johnson won't be able to make Patrick do anything, but as one of his closest friends, make sure he's ok. As for the other stuff, it will get dealt with and the chips will fall where they may. Incidentally, calling that jackass who commented on the Canadian lawsuit a fool was the most accurate thing Patrick said...the journalist/interviewer was a clown! Cheers! Link to comment Share on other sites More sharing options...
Parsad Posted August 23, 2019 Share Posted August 23, 2019 this is a crazy Fun fact (from Forbes article): Byrne is the son of the late John “Jack” Byrne, a University of Michigan-trained mathematician and renowned insurance executive credited with turning around Geico in the mid-1970s and persuading Warren Buffett to invest in the auto insurer. Geico would eventually become one of the biggest contributors to Berkshire Hathaway’s bottom line, and Buffett once described Byrne’s father as “the Babe Ruth of insurance.” Not fun fact...known fact for oh...50 years. ;D Cheers! Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted September 10, 2019 Share Posted September 10, 2019 Ha anyone looked into the "digital preferred dividend" OSTK is supposed to pay later this month? Seems like an elaborate plan to burn short sellers. I would think that this sort of thing violates a host of arcane regulations and market rules. Link to comment Share on other sites More sharing options...
Gregmal Posted September 18, 2019 Share Posted September 18, 2019 Ha anyone looked into the "digital preferred dividend" OSTK is supposed to pay later this month? Seems like an elaborate plan to burn short sellers. I would think that this sort of thing violates a host of arcane regulations and market rules. https://nypost.com/2019/09/17/ex-overstock-ceo-planned-crypto-dividend-to-thwart-short-sellers/ Pretty neat. Kind of annoyed I missed that trade. Setup was definitely there. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted September 18, 2019 Share Posted September 18, 2019 https://www.forbes.com/sites/laurendebter/2019/08/22/the-exclusive-inside-story-of-the-fall-of-overstocks-mad-king-patrick-byrne/ Forbes story chronicling recent events Link to comment Share on other sites More sharing options...
Peregrine Posted September 18, 2019 Share Posted September 18, 2019 I truthfully can't understand why some think of him as "brilliant". He might have high horsepower but he seems rudderless and is probably utterly crazy. Link to comment Share on other sites More sharing options...
OracleofCarolina Posted September 18, 2019 Share Posted September 18, 2019 Sheesh..Byrne sold all of his shares over past 3 days.. Link to comment Share on other sites More sharing options...
mwtorock Posted September 19, 2019 Share Posted September 19, 2019 Sheesh..Byrne sold all of his shares over past 3 days.. https://www.deepcapture.com/2019/09/a-message-to-my-former-colleagues-at-overstock/ some words from Byrne for selling... Link to comment Share on other sites More sharing options...
Cigarbutt Posted September 19, 2019 Share Posted September 19, 2019 Mr. Patrick Byrne is clearly a bizarre persona but it does not mean that he is wrong about everything. Link to comment Share on other sites More sharing options...
Cevian Posted September 19, 2019 Share Posted September 19, 2019 Starting to remind me of Bobby Fischer. Link to comment Share on other sites More sharing options...
influx Posted August 11, 2020 Share Posted August 11, 2020 This has had a great run :) As of today one cannot buy via Saxo - it is reduce only. I am curious what do you guys see on your end? Link to comment Share on other sites More sharing options...
Parsad Posted November 6, 2020 Share Posted November 6, 2020 Many of you always wondered what some of us saw in this company...although we didn't think it had to take a pandemic to get it there...Overstock.com had another blowout quarter and opportunistically took advantage of their stock price: https://finance.yahoo.com/news/overstock-reports-q3-2020-financial-120000825.html Cheers! Link to comment Share on other sites More sharing options...
valueinvestor Posted November 6, 2020 Share Posted November 6, 2020 It'll be a great case study - that and APPS Link to comment Share on other sites More sharing options...
influx Posted November 9, 2020 Share Posted November 9, 2020 Many of you always wondered what some of us saw in this company...although we didn't think it had to take a pandemic to get it there...Overstock.com had another blowout quarter and opportunistically took advantage of their stock price: https://finance.yahoo.com/news/overstock-reports-q3-2020-financial-120000825.html Cheers! Hey, I hope you are well. And I've started wondering why is it so volatile? Why do you think it is? I am embracing it, I don't mind, I am just wondering what is it the cause if it is stable and growing? Maybe the assumption is incorrect (growing, stable, etc) or maybe we've got incorrect market perceptions ? Would love to hear more on this. Link to comment Share on other sites More sharing options...
willie2013 Posted December 28, 2020 Share Posted December 28, 2020 With all the latest news on Cryoto/Blockchain (I know Medici Ventures is small) and with Covid worsening why is this trading so poorly lately? I know there are people here that follow this stock, but a quick look at the chart makes this an interesting trade perhaps? Link to comment Share on other sites More sharing options...
willie2013 Posted January 14, 2021 Share Posted January 14, 2021 Well...schucks.....wish I’d bought at $50 when pondering it in the post above. Link to comment Share on other sites More sharing options...
KinAlberta Posted May 23, 2021 Share Posted May 23, 2021 Any thoughts on this? I’m always suspicious of pie in the sky innuendo. Overstock CEO says Coinbase, Robinhood are in its crosshairs as it builds out rival crypto trading venue - MarketWatch April 20, 2021 https://www.marketwatch.com/story/overstock-ceo-says-coinbase-robinhood-are-in-its-crosshairs-as-it-builds-out-rival-crypto-trading-venue-11618941930 - - - Link to comment Share on other sites More sharing options...
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