Author of article
Posted on 08/14/2019 6:56:59 PM PDT by yesthatjallen
Gotta buy something from Overstock right now.
My daughter got incredible room-sized rugs at unbeatable prices.
“If the stock price is going down, now is the time to buy!”
In this case — NO. The stock went down 80% last year. I wouldn’t touch this stock ... and I never base investments decisions on politics.
https://www.fool.com/investing/2019/01/20/heres-where-things-went-wrong-with-overstock-in-20.aspx
Author of article
Dude’s name is spelled three diffent ways just in the excerpt.!!!
+++++
LOL. Nice catch. Very nice catch.
More details here.
2018 they went all in on selling/gen administrative costs, mostly driven by advertising and didn’t get the payback.
Looks like so far this year they’ve cut that back dramatically - down about 50% YTD in a quarter to quarter comparison. Not in the green yet, but at least they turned the ship’s direction based on the last 4 quarters.
I’m thinking of dropping a small buy.
“I’m thinking of dropping a small buy.”
Based on what facts? In 2018 they lost 80%. That is not just the result of some things that didn’t go right. That is a stock with some very serious problems.
Based on a 50% reduction in Sales/gen admin expenses in 2019 quarter to quarter compared to 2018 and EPS going from -2.20 to -0.69 and cash flow while still negative is improving in a similar fashion over the same time frame. Plush in ‘18 they retired a bunch of debt without issuing new. So overall fundamentals are improving.
They were overbought big time in 2018 and they appear to be back to prior year price levels with better sales and earning. Charts also indicate they are at a level that is oversold now.
It’s not like I’m going all in, and since they don’t pay a dividend I’ll be buying a few January calls on a limit. If I don’t get my price then I don’t get’em.
“Dude’s name is spelled three diffent ways just in the excerpt.!!!”
Good editing! Byrne, Bryne and Byrde. Wow. Goofy writer.
Modern urinalism in its full glory.
I kind of like “Bob Hard”. It could become another FReeperism like Jim Thompson.
Ha! Actually, I think that’s better.
Alrighty then. Things are making more sense now. And he’s a writer. If straight, he’s probably dating that chick whose mommy called her boss over the spelling of “hamster” (hamPster). As long as THEY think it’s right. It’s right. Their teachers told them so!
The company is being heavily shorted, like 75%. (Shorting is the borrowing of stock to sell at a high price in order to drive the price down, then to hopefully buy shares at a lower price, returning the borrowed shares to the original owner)
Their stock ‘has fell’.
Sharp reporter.
By his own admission, he helped the lawless Deep State, IOW.
UPDATE: Overstock’s stock soars after controversial founder and CEO Patrick Byrne resigns, effective immediately
Today 12:34 PM ET (MarketWatch)
Shares of Overstock.com Inc. (OSTK) soared 15% in midday trading Thursday, after controversial Founder and Chief Executive Patrick Byrne resigned from discount e-commerce site Thursday, effectively immediately, saying he was “far to controversial” to serve as CEO. The resignation comes after Byrne said last week that he had assisted in the Clinton and Russian investigations (http://www.marketwatch.com/story/overstock-shares-fall-as-ceo-gets-even-more-nutty-and-unpredictable-2019-08-13), and was actually the notorious missing “Chapter 1” of the Russian investigation. He also said he was romantically involved with jailed Russian agent Maria Butina. In a letter to shareholders Thursday, Byrne said he was concerned that his going public about “certain government matters” may affect and complicate strategic discussions regarding the retail business. “Thus, while I believe that I did what was necessary for the good of the country, for the good of the firm, I am in the sad position of having to sever ties with Overstock, both as CEO and board member, effective Thursday August 22,” Byrne wrote. The company named board member Jonathan Johnson as interim CEO. Byrne had launched Overstock.com (https://www.overstock.com/about) in late 1999. The stock has run up 64.6% year to date, while the Amplify Online Retail ETF (IBUY) has climbed 23.5% and the S&P 500 has gained 16.5%.
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