Calling all ET traders to gun Overstock ( OSTK )shorts tomorrow, 50%+ float is short

Discussion in 'Stocks' started by fxpeculator, Aug 12, 2005.

  1. Shares Short 6.53M
    Days to Cover 14
    Short % of Float 51.70%
    Total Increase / Decrease -6.18%
    % From 52-Week High -76.41%
    % From 50 Day 8.27%
    % From 200 Day 0.98%
    52 Week Performance 54.38%
    Avg Daily Vol - 1 Mo. 0.47M
    Shares Outstanding 20.31M
    % Insider Holders 35.73%
    % Institutional Holders 44.10%
    Float N/A
    Avg Daily Vol - 10 Day 0.64M
    Avg Daily Vol - 3 Mo. 0.55M
    Shares Short - Prior Mo. 6.96M
    52-Week High (06-Dec-04) 77.18
    52-Week Low (12-Aug-04) 27.65
    50 Day MA 40.13
    200 Day MA 43.32
    Release Date Jul-2005

    Live In Play

    08:57 OSTK CEO Patrick M. Byrne buys shares -- SEC filing (42.02 )

    CEO Byrne has purchased shares over the past two days: On 8/9, Byrne acquired 25,000 shares at $41.58-42.00 and yesterday purchased another 5,000 shares at $42.00... Note: We find it quite interesting that the CEO is in the market purchasing shares given his comments on the last conference call suggesting that he was expecting a big short-squeeze in the stock b/c the shorts don't have nearly enough shares to make the math work. See recent comments (Comment 1, Comment 2).

    Live In Play

    13:47 OSTK files lawsuit against Rocker Partners and Gradient Analytics (43.30 +1.28) -Update-

    Co announced that it has filed an unfair business practices lawsuit against Gradient Analytics, Rocker Partners LP, Rocker Management LLC, Rocker Offshore Management Company, David Rocker, Marc Cohodes, James Carr Bettis, Donn Vickrey, and Matthew Kliber in the Superior Court of California in the county of Marin. President Patrick Byrne will discuss the lawsuit via a webcast and teleconference scheduled for 8:30 a.m. ET on August 12.

    Live In Play

    10:34 OSTK moves to highs; looks like the squeezers like the CEO's insider buying... see 08:57 comment (43.63 +1.61) -Update-

    Next level of interest is minor resistance in the $44.20 area.

    Live In Play

    11:52 OSTK Co's CEO is highlighting short position vs Days to Cover; "says things are getting very tight" (42.02 -1.83)

    -Update- CEO keeps pointing out that he isn't implying anything by presenting these slides. Does note that it only has $8 mln left in its buyback program... Note: Stock not seeing any lift following these comments; would also note that issue saw a pop earlier, but came back down aggressively, suggesting a big seller may be lurking.

    Live In Play

    12:21 OSTK CEO closing the call focusing on the short sellers (42.03 -1.82)

    -Update- CEO says knows that he and his father own about 7.5 mln shares and others in his family own about 1.0-1.4 mln shares (his best guess). Look at top 10 institutional holders show 7.6 mln shares held. If you look at other friends (people CEO knows), a reasonable est is about 1 mln or so. Says all together talking about 18 mln shares. CEO says that what this means is that there are about 1.9 mln shares that you can own (short), but if you look at what people think they can own it is about 9-10 mln shares. Note: Though the CEO won't admit it, he seems to be implying that a big short-squeeze may be coming once the shorts start covering.
  2. jds


    never would own or short this, but feel that your "call" is too self serving - sorry, but i really hope you lose!

  3. Sounds like your short to me or a very weak and pathetic individual, or both. Was the post to serve everyone but myself? LMAO
  4. tomcole


    The CEO would be better served by asking longs to take physical delivery of their certificates - MSTR did that a few years ago.
  5. you first.
  6. m22au


    The CEO would be better served by focusing on turning a profit.

    Having said that, I'm willing to play a short squeeze if one eventuates

  7. Htrader

    Htrader Guest

    As a general rule of thumb, any company or CEO that even mentions the word "short-sellers" is headed for trouble.

    They should be focused on their company, not the stock price.
  8. If you were a major shareholder, a CEO, a Founder, you wouldn't be concerned about the stock price? The stock price doesn't have to reflect strong fundamentals, or bad fundamentals . I believe a good CEO would be concerned about the strong performance and fundamentals, as well as the stock price. Where there is a disconnect, it is his job to fix it if possible! A CEO who goes to bat for shareholders for stock appreciation is the one you want, of course with good fundmentals in the background. Would you prefer a passive CEO who just waited and "hoped" for the stock price to reflect the fundamentals?

    I am long OSTK on a swing, but not in love with it. I like the risk reward here provided by the massive short position in the stock.
  9. Ahh but there is a lot more quick money in the stock swindle game with a lot less real work.

    6.53M shares short and only 20.31 shares outstanding. Even without the insider manipulation of the float, this is a short squeeze waiting to happen.
  10. It worked for the Home Builders, stocks went up 400% when the CEOs said the shorts are going to be squeezed.
    #10     Aug 12, 2005