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If Insiders Are Unloading, Why Is BIDZ.Com Buying Back Shares?

Sam,

wasn't the price the stock is bought back the difference between BIDZ and Crazie Eddie's?

Wasn't crazy Eddie buying back its stock as it was skyrocketing so the insiders can sell at stratospheric prices?

It's not apples to apples if BIDZ is buying back stock at an 60-85% discount to its highs as opposed to Crazie Eddie which was buying back after a 50% discount to its highs but one must remember that those highs are more than 1500% of its debut so in reality Crazy Eddie's was buying back stock at 10 times their original price and hence they were buying at massively inflated prices precisely to protect the selling prices of the insider criminals.

If David Zinberg and his sister are insider criminals then they're pretty lousy criminals at pumping the stock and faking earnings since they are selling at very low prices compared to the pump and dump that was Crazy Eddie's.

Although I cannot 100% rule out misdeeds, Maybe the two siblings have been living it up expecting BIDZ to skyrocket and now have to sell at desperate prices to fund their large mortgage payments?

Who knows how over leveraged they are in terms of their income or expected income?

The CEO of Chesapeake Energy over leveraged himself on his own stock CHK and he was forced to sell at the bottom setting lows of $10 after buying on margin in the 40's-50's due to greed of expecting ever rising energy prices.

All I am saying is sometimes things do not go as you expect and you are forced out at the bottom.

Bidz.com Under Siege from Investigations and Lawsuits

I have a sneaky suspicion that Goldman Sachs is using Sam Antar to artificially deflate the price of BIDZ so they can stick it to the company for not going public through Wall Street while at the same time picking up shares at these depressed prices for the eventual pump that they will be a part of.

Their only problem is the utter lack of liquidity due to the high % of insider ownership and lack of massive selling at these prices.

They are currently increasing their position in BIDZ while simultaneously decreasing their position in NILE per the most recent filing info of 3/31/09.

Too bad we are not getting their share count for short activity in BIDZ since they could have been using their long shares to fill artificially low bids on the shares in order to depress the price and make a killing on their short position until they cover at really low prices and clean up all the leftover shares and go long big time.

I predict a convergence in share price and market caps that will occur between BIDZ and NILE in the not too distant future.

It's not exactly apples to apples but the two companies cater to jewelery purchasers and there is nothing to prevent BIDZ from encroaching on NILE's singular domain of engagement ring market making.

The fact that BIDZ has made more money in the last year than Blue Nile is not lost on Goldman Sachs or their henchmen.

BIDZ's 5 year PEG is a mere .4 vs NILE's 3.25
BIDZ's P/E is 6.5 vs NILE's P/E of 65

This mis-allocation in pricing of the two companies will only last until Goldman and their racket has picked up enough BIDZ shares and shorted enough NILE shares to make it worth their while before they pull the rug on NILE and skyrocket BIDZ some 1000%.

You heard it here first. Ignore this calculated multifaceted Goldman lead charade that is meant to make you sell at massively undervalued prices with the intent of making you chase BIDZ later at much higher prices.

Government Sachs currently accounts for more that 50% of all shares traded on Wall Street.

They cannot fool people who study the history of their tendencies and do some research.

They only fool the lazy and/or fearful/greedy and that is how they make their money.

Wall Street Breakfast: Must-Know News

Rachael,

Goldman Sachs threw out the December month from their quarter.
Do you even know this?

More at my blog

There's Been No Basis for Earnings Fear So Far

Yourself and nearly everybody in on this charade( that would include all analysts and most print and media reports) are conveniently forgetting that Goldman Sachs skipped over reporting their 1 Billion dollar loss from December 2008 in order to report profits from a March quarter that was not originally included in analyst estimates.

In effect, this is an unheard of 4 month quarter without the losses of the first month.

Factor in 1 Billion $ additional losses and they miss analyst estimates by a large amount. Back out their profits from March 2009 and they may be sitting on losses that missed estimates by a country mile.

Sooner or later, this news is going to come since not everyone is in on the conspiracy to make the losses from December not count.

Care to rephrase or is the truth too much for you?

For more details on GS's earnings and WFC's upcoming disasterous numbers check out my blog where I tell it like it is rather than pump on unsuspecting noobs.

Amazon Amazes!

Amazon Sold its DVD rental business to a company that Amazon owns a stake in( possibly majority stake?)

That is why it's a non-cash capital gain. They never received any money since the company that bought it does not have any money on their own unless Amazon gives it to them.

This is known as accounting fraud as Enron has shown us. Just like their margins, this is unsustainable.

Sramana, if you investigate this issue and unearth something, then you might have a right to be called a real journalist or at least a good financial analyst but most likely you suffer from what ails most people- ignorance that is a result of laziness.

Until you come up with something original, you're just part of the herd of cretins infesting the media in all its forms.