Overstock.com Fights Naked Shorting

Discussion in 'Stocks' started by flytiger, Aug 11, 2005.

  1. FYI Rocker owns Street.com w/Cramer and I believe VFIN: Gradiant Analytics links http://www.earningsquality.com/homeEQ.do?action=AboutUs

    Overstock.com Files Lawsuit Against Rocker Partners and Gradient Analytics;

    Company President to Hold Live Webcast Friday, August 12, at 8:30 a.m. Eastern


    SALT LAKE CITY, Aug. 11 /PRNewswire-FirstCall/ -- Overstock.com(R) (Nasdaq:

    OSTK) today announced that it has filed an unfair business practices lawsuit

    against Gradient Analytics, Inc., Rocker Partners LP, Rocker Management LLC,

    Rocker Offshore Management Company, Inc., David Rocker, Marc Cohodes, James Carr

    Bettis, Donn Vickrey, and Matthew Kliber in the Superior Court of California in

    the county of Marin. The complaint, available for download at

    http://www.shareholder.com/overstock, alleges that the Defendants have conspired

    to denigrate Overstock.com's business for personal profit.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a)

    Overstock.com President Patrick Byrne will discuss the lawsuit via a webcast

    and teleconference scheduled for 8:30 a.m. Eastern Time on Friday, August 12.

    To attend the live webcast and slide presentation, log on to Overstock.com's

    investor relations website at http://www.shareholder.com/overstock. To listen

    via telephone, please dial (800) 811-8830. Participants outside the United

    States who do not have Internet access should dial +1 (913) 981-4904. The slide

    presentation will be available for download at the beginning of the call.


    A replay of the webcast will be available on the Internet at

    http://www.shareholder.com/overstock starting 90 minutes after the live call has

    ended. A transcript will be posted to the website as soon as it is available.

    An audio replay of the webcast will be available via telephone starting at 1:30

    p.m. Eastern time on August 12, through midnight Eastern Time on Friday, August

    19. To listen to the recorded webcast by phone, please dial (888) 203-1112

    (passcode: 4199807). Outside the U.S. please dial +1 (719) 457-0820(passcode:


    Overstock.com is a registered trademark of Overstock.com, Inc. All other

    trademarks are the property of their respective companies.

    This press release contains certain forward-looking statements within the

    meaning of Section 27A of the Securities Act of 1933 and Section 21E of the

    Securities Exchange Act of 1934. Such forward-looking statements include, but

    are not limited to, statements regarding the time of the conference call, and

    such other risks as identified in our Form 10-K for the year ended December 31,

    2004, and all our subsequent filings with the Securities and Exchange

    Commission, which contain and identify important factors that could cause the

    actual results to differ materially from those contained in our projections or

    forward-looking statements.

    SOURCE Overstock.com, Inc.

    /CONTACT: Media, Scott Blevins, +1-801-947-3133, sblevins@overstock.com, or

    Investors, Kevin Moon, +1-801-947-3282, kmoon@overstock.com, both of

    Overstock.com, Inc.

    /Web site: http://www.shareholder.com/overstock

    /Web site: http://www.overstock.com

  2. Short % of Float 51.70%

    Stock Symbol:
    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

    Calling all ET traders to gun shorts on OSTK tomorrow. Disclosure, I am long!
  3. You really need to to listen to this call if you call yourself a market partic ipant. He calls out WSJ , Barron's, Herb Greenberg, Carole Remond.

    If I didn't know most of this disgusting mess before, I'd say this guy was crazy. But I'm hear to tell you, this is all true. He mentions States. This is where the fight will be won. The States are on this big time. I spent an hoiur w/ a regulator today. He tells me that Patrick Byrne has it made because he has the money. But, he is willing to help the have nots.

    Please listen to the call. Ok, Ok, He mentions Jim Cramer. Now, do you want to listen.??????????????????????????????????????

    23% annualized my @#$%^& ass.
  4. Did I mention OSTK was us $3.5 today? It's only the beginning. The reported shorts probably are a fraction of the NSS.
  5. I'd be tempted to short OSTK if it was available. Byrne is far from free of fleas himself. Jeff Matthews has laid it out in devastating detail on his blog numerous times. That said, the naked shorting scandal badly needs fixing.
  6. Stock is up :D
  7. Please, if your trading in size, find a broker to short OSTK. I need more shorts soaked into the stock to steamroll by the end of next week. 50%+ of the float shorted is not enough, I am sure there are some more daredevils that want to jump in. I have word from a trader that any broker that clears with Susquehanna has them. Run and get those shorts! Do the "short busters" a favor!
  8. Jeff Mathews. THink about it. If you listen to the call, you'll see he calls out the press, and bloggers.
  9. I think it is more likely Dr. Byrne wil be going by the title "former" CEO of OSTK than the shorts get busted on this one. Interesting battle though.
  10. I'd be more impressed if he answered their criticisms.
    #10     Aug 12, 2005