Posted on 08/14/2019 6:56:59 PM PDT by yesthatjallen
Shares for the internet retailer Overstock have plunged more than 30 percent this week after its CEO issued a statement saying that he assisted efforts to investigate Russian interference in the 2016 election.
The e-commerce company's stock has fell by 36 percent since Monday, a figure that represents its biggest two-day hit in 11 years, Bloomberg News reported.
The significant slide began after CEO Patrick Bryne came out with a statement about what he referred to as the "deep state."
"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,’" Byrde said on the company's website. "It was the third time in my life I helped the Men in Black."
“I will speak no more on the subject,” he continued. “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.”
Bryne did not address any specifics regarding the aid he offered the investigation. His statement appeared to have come in response to an independent journalist's story about the Russia probe.
Bloomberg News noted that Byrne has a history of making unusual statements. Among other things, the CEO has compared the e-commerce giant's cryptocurrency goals to the polio vaccine, the news outlet noted.
Overstock becomes the latest company to see its stock tumble following controversy related to politics. Wayfair, an online furniture company, has experienced a 7 percent plunge in stocks since employees discovered it sold beds to a detention facility housing migrant children, The Washington Post noted.
Employees found out in June that a nonprofit government contractor managing migrant camps placed a $200,000 order for bedroom furniture.
There is a whole lot left out of that story.
This is all very vague.
I’m very happy that this guy is a conservative. I don’t own the stock, but the company has been swimming in red ink for years. Why he chose this moment to flaunt his political views is a mystery. The company doesn’t need people boycotting the company he runs for political reasons.
Never let them tell you that the Markets are not political and liberal investors will not extort a price for conservative businessmen who go against them.
It’s The Hill. Garbage in, garbage out. For me, I’m going to buy something from them tonight!
Dude’s name is spelled three diffent ways just in the excerpt.!!!
When the CEO is spreading pixie dust like that you have to question the viability of the company he is running.
Article from Sara Carter from two days ago
“company’s stock has fell by 36 percent”
Has “fell”? OMG. Got grammar?
The person that wrote that can't tell you what 11+17 equals without a calculator either.
I'm still trying to remain hopeful but it's getting unceasingly difficult.
OK, Company’s stock done fell 36 percent.??
LOL, but that is a whole lot more correct, actually.
If the stock price is going down, now is the time to buy!
Several years ago, I recall Byrne complained that his stock was being short-sold thus driving down the price. I got the impression that he was an unwelcome competitor in the E commerce arena. Don’t know if his complaints were verified.
Why is that pixie dust ? Isn’t that what Bob Hard is trying to do ?
Stupid autocorrect. “Bob Barr”.
news trending bad for Democrats....expect a crisis in the near future for smokescreen
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