Short OSTK
- Thread starter BlueHorseshoe
- Start date
In the state of NY one can still be fined for flirting. In Massachusetts it is illegal for a woman to ride her husband cowboy-style. In PA it is illegal to sing in the bathtub. Your moralizing about 'the law' has long grown old Fly-boy. Everyone gets it, except Byrne, apparently. If we simply enforce naked shorting rules we will have clowns like Byrne running syndicates to corner crap stocks like OSTK. It is simply NOT going to happen.
OSTK will file bankruptcy soon. Meanwhile, Byrne is bilking shareholders in his cynical effort to launch his second Cramer-media-clown career. But that for another post. Thank God shorts will have some hand in ending this nonsense.
I don't have a chart up right now but it looks like ostk held up pretty well last night.
OSTK needs to dump some new shares on somebody, and do it in hurry. Buffett paid an 8% discount to GS preferred that paid a 10% div. Is OSTK going to issue an preferred??? It can't afford 1%, let alone 10%. According to my estimate, OSTK needs to raise a minimum US$50-mil within the next two quarters. How many investors currently stand ready to throw money at a perennial loss-maker?? I expect the new shares to go for a ~30% discount, IF OSTK can even get it off. That drops the share price from Friday's $12 down to about $8, and dilutes existing shareholders by about 27%. I guess if you are holding a loser, dilution is good, right? Uggh ...
Here's a rough tabulation of OSTK Owner's Equity (less a marginal amount of goodwill):
4Q06 65-mil
1Q07 41-mil
2Q07 30-mil
3Q07 29-mil
4Q07 15-mil
1Q08 0-mil
2Q08 (4.9-mil)
3Q08 (6.5-mil)
It's just a shame what short-sellers are doing to this company ...
Here's a rough tabulation of OSTK Owner's Equity (less a marginal amount of goodwill):
4Q06 65-mil
1Q07 41-mil
2Q07 30-mil
3Q07 29-mil
4Q07 15-mil
1Q08 0-mil
2Q08 (4.9-mil)
3Q08 (6.5-mil)
It's just a shame what short-sellers are doing to this company ...
You knuckleheads are trying to force a short in OSTK because you've got a hard on for Byrne. He's telling you the real play in the sector; you just have to do some homework. I suppose you could pick one, call a favorite reporter, and good crooked detective, and make your own death spiral, or maybe you can't.
http://www.youtube.com/user/OverstockPress
But on a serious note, I will be on the lookout for stuff coming out about the bricks and mortars guys. Some real plays here, even at these prices. He even gives you the timetable.
You know, I'm just too, too good to you guys. Watch Deepcapture. Barnburner comin'.
http://www.youtube.com/user/OverstockPress
But on a serious note, I will be on the lookout for stuff coming out about the bricks and mortars guys. Some real plays here, even at these prices. He even gives you the timetable.
You know, I'm just too, too good to you guys. Watch Deepcapture. Barnburner comin'.