18.98 +0.08 (0.42%)
After hours: 5:58PM EDT
|Bid||18.92 x 1200|
|Ask||18.93 x 1400|
|Day's Range||17.62 - 19.45|
|52 Week Range||8.96 - 31.55|
|Beta (3Y Monthly)||3.69|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 6, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||44.00|
Overstock Chief Executive Officer Patrick Byrne’s inexplicable comments about “the deep state” and his claims that he was a part of federal investigations related to the 2016 election has sent the online retailer’s stocks tumbling for the third day in a row. Over It Byrne released a statement titled “Overstock.com CEO Comments on Deep State” in which he says he helped law enforcement agents, whom he called the “Men in Black,” with their “Clinton Investigation” and “Russia Investigation,” referring to the investigations of whether Russia interfered in the 2016 election. The statement was in response to articles on the website of Fox News contributor Sara Carter. The Spy Who Loved Me Byrne admitted he was romantically involved with Maria Butina, who is now serving 18 months in prison after being accused by federal prosecutors of attempting to infiltrate political circles in the United States at the direction of the Russian government. Byrne claims that government officials instructed him on how to interact with her, and that he had previously cooperated with government investigations into the murder of a friend as well as what he refers to as a “shake up” of Wall Street from a decade ago. Stock It To Me Overstock had a strong second quarter earnings call last week, but that was all erased by the 36% drop the company has faced since Byrne’s statement was released on Monday. Byrne Unit Byrne is known as a free spirit, prone to strange sayings and behavior, including comparing Overstock’s cryptocurrency ambitions to Jonas Salk’s polio vaccine and has joked that the Securities and Exchange Commission should just move into the Overstock’s office space while it investigates Byrne’s upcoming tZero push blockchain project. The rapid drop in Overstock’s stock is being seen as yet more proof that even when a company is doing well, a CEO’s behavior can hurt their bottom line. Heck, just ask Elon Musk. -Michael Tedder Photo via Overstock.com
Shares of the online retailer and blockchain company have come undone on "deep state" comments from CEO Patrick Byrne.
Overstock.com Inc. shares completed their worst two-day decline on record Wednesday, after Chief Executive Patrick Byrne claimed to have worked with the Federal Bureau of Investigation on a “political espionage” case involving Russia, Hillary Clinton and Donald Trump.
(Bloomberg) -- Overstock.com Inc. shares fell for a third day Wednesday as investors reacted to statements by Chief Executive Officer Patrick Byrne that he was a part of federal investigations related to the 2016 election.The e-commerce company has lost a third of its value in the two days since releasing a statement by Byrne titled “Overstock.com CEO Comments on Deep State” and referring to federal investigators as “the Men in Black.” The stock fell another 23% on Wednesday, bringing its slide to 36% since Monday, the biggest two-day slump in more than 11 years.Byrne’s statement addressed stories published on a little-known news website and referenced investigations relating to the Clintons and Russian interference in the U.S. elections, political espionage and the rule of law.“I will speak no more on the subject,” Byrne wrote in the statement. “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.”They’re not the first unusual comments from the Overstock founder. He sued brokerages over claims tied to naked short-selling in 2007 and has said the banks settled the case for tens of millions of dollars. He’s compared a company executive to a Star Trek character in announcing her promotion, and has signed communiques to holders with “your humble servant.” He likened Overstock’s cryptocurrency ambitions to Jonas Salk’s polio vaccine and joked on last week’s conference call about loaning office space to the SEC amid an investigation into the company’s tZero push, comments which briefly sent the shares tumbling.“What you have here is a highly controversial CEO and another example of something that’s controversial,” D.A. Davidson analyst Tom Forte said in an interview. He has a buy rating on the stock. “There are times like right now where that has a negative impact on the performance of the stock.”Overstock had been riding high after investors cheered the company’s second-quarter earnings report on Thursday that revealed a narrower-than-expected loss on an adjusted Ebitda basis. The stock closed the week at the highest levels since October. Now, the two-day slide has erased more than a month of gains.“The frustrating part is that the legacy home e-commerce business has returned to positive cash flow,” said Forte, one of two Wall Street analysts covering the company. “The two assets -- e-commerce and blockchain -- are incredibly well positioned.”Representatives for Overstock didn’t respond to a voicemail message or e-mail seeking comment on Wednesday.To contact the reporter on this story: Jeran Wittenstein in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Courtney Dentch, Chris NagiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of e-commerce company Overstock Inc. tumbled on Tuesday, as more investors learned of the latest bizarre comments from its founder and Chief Executive Patrick Byrne
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’ (in fact, I am the notorious ‘missing Chapter 1’ of the Russian investigation). It was the third time in my life I helped the Men in Black: the first was when my friend Brian Williams was murdered, and the second was when I helped the M.I.B. shake up Wall Street a decade ago. Unfortunately, this third time turned out to be less about law enforcement and more about political espionage conducted against Hillary Clinton and Donald Trump (and to a lesser degree, Marco Rubio and Ted Cruz).
tZERO, the global leader in blockchain innovation for capital markets, announced today that its preferred equity security tokens (TZROP), which were issued in a private placement in August 2018, and which have been traded by accredited investors since January 2019, are now available to be resold to non-accredited investors, too (under Rule 144 under the Securities Act of 1933). Investors with an account at Dinosaur Financial, LLC may trade their tZERO security tokens on the PRO Securities alternative trading system (ATS).
A mixed second-quarter report left investors cheering the blockchain and e-commerce company's bottom-line achievements more than they worried about its revenue shortfall.
In its second-quarter earnings announcement , Overstock.com Inc (NASDAQ: OSTK ) noted positive trends with its retail and blockchain subsidiaries Medici Ventures and tZero. Among the announcements, Medici ...
Overstock (OSTK) delivered earnings and revenue surprises of 25.00% and -3.08%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Consolidated revenue of $374 million and pre-tax loss of $28 million;Retail adjusted EBITDA of $1.6 million SALT LAKE CITY, Aug. 08, 2019 -- Overstock.com, Inc..
Overstock.com Retail (OSTK) recently introduced two new features to its Club O loyalty program: price match guarantee and free returns. Club O, which was established in 2009, is offered for only $19.95 a year and gives members exclusive benefits including, free shipping on every order, five percent rewards on every purchase, rewards for writing reviews, and access to an extra rewards store for added savings. “Club O continues to be an important part of our customer strategy,” said Kamelia Aryafar, chief customer and algorithms officer for Overstock.com Retail.
tZERO, the global leader in blockchain innovation for capital markets, announced today it was awarded a patent by the U.S. Patent and Trademark Office for the Time Ordered Merkle Epoch (TOME) methodology. TOME is a base-layer technology that uses digital signatures to record and verify time-series data such as trades, executions and settlements. This technology enables low-latency systems, including traditional matching engines or private blockchain ledgers, to be anchored into immutable public blockchain ledgers.
Overstock (OSTK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg) -- Looking to short Beyond Meat Inc. in the wake of the veggie-burger maker’s post-IPO rally? The cost of doing so is now the highest among all U.S. stocks.Short sellers paid the highest bid and offer borrow rate of 110%/138% on Beyond Meat, with the last transaction going off at 197%, indicating that supply for shares to borrow is declining quickly, according to July 30 data from financial analytics firm S3 Partners. That’s more than more than double the cost of the second-most expensive short bet, Overstock.com Inc.Beyond Meat has surged more than 700% since its May 1 debut. Short bets total $1.2 billion of market value. About 5.2 million shares are borrowed for short selling, almost 45% of the company’s free float.Meanwhile, Overstock.com, which has long been the target of short sellers, has seen its stock fall roughly 65% since 2018 when it decided to pivot to cryptocurrencies. It has 17.9 million shares or 63% of its float shorted.Rounding out the list from S3 are some names that have attracted a cult-like following as well. Turtle Beach, which captivated investors during the Fornite craze last year, at one point rose nearly 750% over a quarter. Pareteum also made the list.(Updates shares in third, fourth paragraphs; adds chart.)To contact the reporters on this story: Jennifer Bissell-Linsk in New York at firstname.lastname@example.org;Aoyon Ashraf in Toronto at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Richard Richtmyer, Jeremy R. CookeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Overstock.com, Inc. (OSTK) announces that its Board of Directors has declared a dividend (the “Dividend”) payable in shares of its Digital Voting Series A-1 Preferred Stock (the “Series A-1”). The existing Series A-1 shares currently can be traded on the PRO Securities alternative trading system (ATS) operated by PRO Securities, LLC. The PRO Securities ATS is powered by technology owned and licensed to it by Overstock’s majority owned subsidiary tZERO Group, Inc., which owns PRO Securities, LLC. The PRO Securities ATS is the same platform on which tZERO’s security tokens began to be resold among accredited investors earlier this year. “Five years ago, we set out to create a parallel universe: a legal, blockchain-based capital market.
The company declared a stock dividend, but unlike traditional stock dividends, this one is being paid in a digital share. Current Overstock shareholders will receive one digital share for every ten shares of the traditional stock they hold.
SALT LAKE CITY, July 29, 2019 -- Overstock.com, Inc. (NASDAQ:OSTK) is scheduled to release second quarter financial results for the period ended June 30, 2019, on Thursday,.
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Overstock.com Inc. - OSTK