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Overstock Overstocked with Bargains, But One of Them Isn't Overstock's Stock (OSTK)

by: David Jackson September 20, 2005 | about: OSTK    
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Overstock released an utterly bizarre press release Friday, titled "Overstock Overstocked with Bargains". In reality the press release was a pre-announcement of lower than expected revenues and margins. A pre-announcement just before the weekend should always raise red flags, and Jeff Matthews demonstrates the multiple disclosure issues in the release. He debated Overstock CEO Patrick Byrne August 17th; that debate now looks somewhat different in retrospect.

About the author: David Jackson
David Jackson picture
I'm the founder and CEO of Seeking Alpha. I worked for five years as a technology research analyst for Morgan Stanley in New York. I left in early 2003 to manage money (long/short) and explore new approaches to financial publishing, ultimately leading to the creation of Seeking Alpha. Prior to... More
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