Overstock.com Fights Naked Shorting

good point:


The founder of the Salt Lake City-based online retailer claims short-sellers and many, many others are conspiring to drive down the price of Overstock shares. This despite the fact that Overstock shares traded this week at 170 times 2006 earnings estimates.
 
Quote from Babak:

Byrne's a bit more lucid here:

mms://streaming.vmsdigital.com:80/080805/NDV32712_01.wmv
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at least he doesn't run around screaming booyahhhhhhhh... and cradling his own head as if he is in agony. thank god for alternative news media !!!!! it seems the mainstream media is in full smear mode. what a bunch of f**king criminals.

HEY RON, RUN THE F**KING STORY !!!!! you scumbags(cnbc).


guys..these are the same media psychopaths that have our citizens dying in an illegal war. just look back at Kudlow and Cramer...they were the biggest war mongering chickenhawks on TV. everything they said has been shown to be lies. and you guys think byrnes is whacked, excuse me while i go vomit.
 
agreed. But people are profiting from it illegally by naked shorting it, proven by the threshold list. They sold stock they can't deliver. Versteh???????
 
Fifth best call of the year. Should have been YEARS. But we'll take it.

http://blogs.wsj.com/marketbeat/2008/12/23/2008-lookback-best-calls-of-the-year/

5. Patrick Byrne Gets His Due. The quixotic chairman of Overstock.com, one of the more colorful chief executives around, has been pounding the table on naked short-selling for years. This year, the Securities and Exchange Commission finally looked into it and issued stringent rulings. Now, it wasn’t enough that a brokerage shorting a stock knew of the availability of shares to be borrowed - they had to deliver them on time as well, and if they didn’t, they’d be barred from engaging in another short-sale unless the shares had been borrowed already. Of course, Mr. Byrne’s company’s stock still fell 25% on the year, but never mind.
 
Overstock?

LOL

Does that company have ANY prospects of ever making money?

Their deals suck anyway, I check them from time to time, and I scratch my head each time. OSTK buys overstock inventory for a higher price than regular retailers buy fresh inventory.
 
Quote from Anaconda:

Overstock?

LOL

Does that company have ANY prospects of ever making money?

Their deals suck anyway, I check them from time to time, and I scratch my head each time. OSTK buys overstock inventory for a higher price than regular retailers buy fresh inventory.
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Move to the head of the 'clueless' line.
 
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