Overstock.com Stalks Critics, Hacks into Facebook Accounts, and Disproves Own Conspiracy Theory

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Judd Bagley Larry BergmanThe story about the Oversock.com theory that anyone who is “friends” on Facebook is part of a naked short selling conspiracy keeps getting weirder. It was bad enough that former Overstock.com employee and paid stalker (paid by OSTK CEO Patrick Byrne, nonetheless) Judd Bagley has created a database of Facebook users and their friend lists.

Bagley has gone further than anyone realized, but we should have expected this. This isn’t Bagley’s first crack at cyberstalking. He’s got a colorful history of doing so. And Patrick Byrne and Overstock are becoming rather famous for issuer retaliation… going after critics of public companies in order to hopefully scare them into silence. These activities go back to at least 2006.

Journalist Gary Weiss writes: Continue reading

Naked Short Selling: A Complete Waste of Resources

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Patrick Byrne Naked Short SellingThe issue of Naked Short Selling stocks (NSS) is getting some airtime, thanks to the likes of loony Overstock.com (NASDAQ:OSTK) CEO Patrick Byrne. He’s a crusader for NSS, claiming over and over that the practice almost destroyed his company. The sad truth is that NSS didn’t really do anything to Overstock.com. Byrne and his incompetent staff ruined the company all on their own, without any help from short sellers.

Still, it makes for interesting bedtime reading. I always love a good conspiracy theory. Continue reading

In Agreement: Overstock.com Sucks and Patrick Byrne is Wacky

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Patrick Byrne, CEO of Overstock.com O.coI’ve written plenty here about perpetual money-loser Overstock.com (NASDAQ:OSTK) and its wacky CEO Patrick Byrne. Unfortunately, I’ve mostly lost interest in the topic. Why? It’s the same old, same old.

Overstock.com continuously loses money for shareholders. Byrne pretends that profits are right around the corner. More money is lost. Dishonest accounting tricks are used to pretend the company made money. Financials are restated. More money is lost. Financials are restated again. More money is lost…

You see a pattern, I hope? Continue reading

Overstock.com and Naked Short Selling

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Pat Byrne, CEO of Overstock.com O.co

An article on the Industry Standard by managing editor Ian Lamont, “Overstock.com CEO: I’m not vindictive.”, explores a recent blog post made by Patrick Byrne on his site that attempts to expose corruption on Wall Street. Byrne is the completely inept CEO of Overstock.com (NASDAQ:OSTK), the man who has run it into the ground and racked up almost a quarter billion dollars in losses since 2000.

Byrne has been ranting for a while that naked short selling of stocks (an illegal act, by which a stock is sold short before actually securing/borrowing shares to short) is rampant on Wall Street and that something must be done about it. He claims that naked short selling is responsible for his company’s stock price experiencing a serious downward trend since 2005. Continue reading

Usana’s Naked Short Selling Conspiracy Theory

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Is there something in the water in Utah? Or have Usana Health Sciences executives been lunching with Patrick Byrne, CEO of Overstock.com?

It seems that Byrne’s naked short selling conspiracy theories have worn off on Usana. Usana executives haven’t been caught whispering about Sith Lords yet, but for all we know, it’s only a matter of time.

Byrne is convinced that Overstock’s dwindling stock price is completely unrelated to the fact that Overstock is a poorly run company that can’t turn a profit. No. The problem is naked short sellers of the stock. Continue reading