Overstock and CEO buying bitcoins after all:
http://www.reddit.com/r/Bitcoin/comments/1wl7xp/patrick_byrne_retracts_statement_that/
Topic: OVERSTOCK SHARE DROPPED ALMOST -20% TODAY!! (Read 2504 times)
Not sure what you're saying, since your on my ignore list, but I bet it's something stupid. 
ROFLMAO. It's funny because it's true.
I am not sure what all the debate is here. The results are crappy. The Q4 figures are inflated by a $72.6M income tax adjustment. Take that out and the resulting $1 million income is markedly down front the previous year's $8.8 million. Earnings per share when you take out the tax benefit is also heavily down. Adopting bitcoin is the action of a company that has long term issues hoping to gain a short term boost in publicity and revenue from a small, but dedicated vocal community. Nothing wrong with that, but the company is in quite the down trend.
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It could actually be not because of the earnings report, but what CEO said during presentation and did just a couple of weeks earlier. Overstock is now accepting Bitcoins, which are extremely risky investment and are incredibly volatile. If they would have stick with the earlier statement that they will NOT hold any Bitcoins and have all payments in cash, then there is nothing wrong with it. However, CEO retracted that statement and during earnings report broadcast said that they are likely to keep a fraction of payments in Bitcoins on company balance sheets and that he personally just bought several millions worth of Bitcoins. Shareholders may have not liked this at all.
Who is running the Big O? Someone who just gambled "several millions" of his own money into highly questionable (from legal perspective) commodity which happen to grow in value 1000%+ in just a couple of last months. How responsible is that? Sounds like a move of a Big L.
Who is running the Big O? Someone who just gambled "several millions" of his own money into highly questionable (from legal perspective) commodity which happen to grow in value 1000%+ in just a couple of last months. How responsible is that? Sounds like a move of a Big L.
Butthurt because you missed out on those cheap coins? Don't worry it's not too late.
From reddi:
Patrick Byrne retracts statement that Overstock.com will not hold bitcoins, also announces personal investment
...in today's Q4 Earnings Conference Call.
http://edge.media-server.com/m/p/xeadrvij/lan/en
@24.10 - 24.38:
"It's not out of the question that we will be holding a small amount of bitcoin."
"I personally have gone out in the past few days and bought several million dollars of bitcoin."
(Discussion of benefits to the company at 22.00, preceded by the story of adoption also told in the LTB interview.)
Patrick Byrne retracts statement that Overstock.com will not hold bitcoins, also announces personal investment
...in today's Q4 Earnings Conference Call.
http://edge.media-server.com/m/p/xeadrvij/lan/en
@24.10 - 24.38:
"It's not out of the question that we will be holding a small amount of bitcoin."
"I personally have gone out in the past few days and bought several million dollars of bitcoin."
(Discussion of benefits to the company at 22.00, preceded by the story of adoption also told in the LTB interview.)
Interesting, this means he bought Bitcoin at the $800-$900 range. This also means he is very confident of Bitcoin price going up significantly, i doubt he'd care for a "puny" 100% return.
From reddi:
Patrick Byrne retracts statement that Overstock.com will not hold bitcoins, also announces personal investment
...in today's Q4 Earnings Conference Call.
http://edge.media-server.com/m/p/xeadrvij/lan/en
@24.10 - 24.38:
"It's not out of the question that we will be holding a small amount of bitcoin."
"I personally have gone out in the past few days and bought several million dollars of bitcoin."
(Discussion of benefits to the company at 22.00, preceded by the story of adoption also told in the LTB interview.)
Patrick Byrne retracts statement that Overstock.com will not hold bitcoins, also announces personal investment
...in today's Q4 Earnings Conference Call.
http://edge.media-server.com/m/p/xeadrvij/lan/en
@24.10 - 24.38:
"It's not out of the question that we will be holding a small amount of bitcoin."
"I personally have gone out in the past few days and bought several million dollars of bitcoin."
(Discussion of benefits to the company at 22.00, preceded by the story of adoption also told in the LTB interview.)
this isn't even remotely related to bitcoin
Punishment from entrenched fiat benefactors for accepting bitcoin?
It dropped due to Q4 financials. Go to Google Finance. This isn't rocket science.
maybe Overstock investors were exposed to Bitcoin through the CEO's move, and are divesting their shares into Bitcoin
Not sure what you're saying, since your on my ignore list, but I bet it's something stupid.
Actually, it is not stupid at all.
OK, I bit and un-ignored him for a second...and yes, it was stupid. That'll teach me.
It's okay, he's a paid internet shill. He's just doing his job along with his buddy proudhon. They're actually worth un-ignoring for their entertainment value alone.
Not sure what you're saying, since your on my ignore list, but I bet it's something stupid.
Actually, it is not stupid at all.
OK, I bit and un-ignored him for a second...and yes, it was stupid. That'll teach me.
Not sure what you're saying, since your on my ignore list, but I bet it's something stupid.
Actually, it is not stupid at all.
It tanked before the earnings call that is happening right now. Market is probably expecting bad earnings or something.
I think the earnings will be better this year then last. I got that idea yesterday when I saw the overstock speaker at the NY hearings mention that they would be releasing the figures for 2013 today. He looked like he was holding back a big smile.
but who really knows.
It looked good to me, IDK what expectations were though: http://online.wsj.com/article/PR-CO-20140130-910552.html
Looks like i was right..
Cant understand why the stock tanked then, it cant be due to me selling all my shares.. Can it?
It tanked before the earnings call that is happening right now. Market is probably expecting bad earnings or something.
I think the earnings will be better this year then last. I got that idea yesterday when I saw the overstock speaker at the NY hearings mention that they would be releasing the figures for 2013 today. He looked like he was holding back a big smile.
but who really knows.
It looked good to me, IDK what expectations were though: http://online.wsj.com/article/PR-CO-20140130-910552.html
It tanked before the earnings call that is happening right now. Market is probably expecting bad earnings or something.
I think the earnings will be better this year then last. I got that idea yesterday when I saw the overstock speaker at the NY hearings mention that they would be releasing the figures for 2013 today. He looked like he was holding back a big smile.
but who really knows.
It tanked before the earnings call that is happening right now. Market is probably expecting bad earnings or something.
Curious why it dropped, anyone know? I tried googling but I got nothing informative.
I know years ago Overstock was famous in the markets as a target of short sellers. I know the CEO complained about it pretty regularly. Could be that it still is today (haven't checked the short interest in that stock laterly)
That was me, I sold all my shares! 
Damnit Bob!
Had to put the money in better places so I sold my overstock shares and plunked all the money in coinye.
I know this coin will take off and I'll be a billionaire!
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