Overstock.com
I have, for the most part, avoided the Overstock.com controversy. Herb Greenberg and Jeff Matthews have done yeoman's work on this story over the years, and my input seemed uneccessary.
Now, with the SEC dropping their investigation of the "Sith Lords," and the company again issuing disappointing sales and earnings, I have one simple question: Who owns this stock, and why?
Overstock shareholders must be 1st rate fools happy to own a 2nd rate internet retailer managed by a 3rd rate CEO whose 4th quarter numbers were awful (400-bps gross margin miss and a 100% negative variance on EPS?), and for the 5th consecutive Q missed the prior sunny forecasts we can expect to be missed for a 6th time in May.
Enough already!
There are 9,000 publicly traded companies out there; Why does anyone even bother with this POS?
Friday, February 16, 2007 | 01:45 PM | Permalink
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maybe the guys chasing the $BKX and $RUT to all-time highs this week are looking for something with a bit less risk???
Posted by: dave | Feb 16, 2007 2:12:25 PM
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