{"id":1194,"date":"2008-01-08T12:34:32","date_gmt":"2008-01-08T18:34:32","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/2008\/01\/08\/overstockcom-single-digits-right-around-the-corner\/"},"modified":"2008-01-08T16:43:43","modified_gmt":"2008-01-08T22:43:43","slug":"overstockcom-single-digits-right-around-the-corner","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/overstockcom-single-digits-right-around-the-corner\/","title":{"rendered":"Overstock.com: Single digits right around the corner?"},"content":{"rendered":"<p>Today, Overstock.com (NASDAQ: OSTK) stock <strike>hit<\/strike> closed at a low like it hasn&#8217;t seen in four years: <strike><strong>$11.85<\/strong><\/strike>. <strong>$11.30<\/strong>. Could it be that Patrick Byrne&#8217;s grand charade is finally unraveling, right before our very eyes?<\/p>\n<p>For quite some time, there have been plenty of questions about the company&#8217;s accounting practices&#8230; specifically how it accounts for inventory. The financial statements and the things said in conference calls didn&#8217;t quite mesh. Executives talked about knowing at the beginning of 2006 that there were going to be huge write-offs of inventory, yet not disclosing that information until the end of 2006.<\/p>\n<p>The market didn&#8217;t seem to care a whole lot. But finally, with <a href=\"http:\/\/whitecollarfraud.blogspot.com\/2008\/01\/did-former-overstockcom-president-chief.html\">the apparent shenanigans<\/a> surrounding the resignation of president, COO, and board member Jason Lindsey, maybe the market is finally paying attention.<\/p>\n<p>Do you suppose Patrick Byrne is panicking at the though of Overstock.com&#8217;s stock price going down into single digits? He should be. Might I suggest he run over to the Overstock warehouse and <a href=\"http:\/\/www.overstock.com\/Health-Wellness\/Attends-Super-Plus-Underwear-Case-of-72\/2582280\/product.html\">pick up a few of these<\/a> in case of emergency?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, Overstock.com (NASDAQ: OSTK) stock hit closed at a low like it hasn&#8217;t seen in four years: $11.85. $11.30. Could it be that Patrick Byrne&#8217;s grand charade is finally unraveling, right before our very eyes? For quite some time, there [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-1194","post","type-post","status-publish","format-standard","hentry","category-fraud-news-stories"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-jg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/1194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=1194"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/1194\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=1194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=1194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=1194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}