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$14.54 0.02 (0.14%)
10/10/2008 4:00 PM

Overstock.com, Inc. (OSTK)

CAPS Rating:
*

The Company is an online closeout retailer offering discount brand name merchandise, including bed-and-bath goods, home decor, kitchenware, watches, jewelry, electronics and computers, sporting goods, apparel and designer accessories.

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Avatar HollywoodDan (95.80) Submitted: 4/18/08 10:42 AM : Underperform Start Price: $17.35 OSTK Score: 3.73

I love it when stocks with long histories of massive failure put out an announcement that includes being under further investigation for their business practices.

On April 15, 2008, we received a letter from the Office of the District Attorney of Marin County, California, stating that the District Attorneys of Marin and four other counties in California have begun an investigation into the way we advertise products for sale, together with an administrative subpoena seeking related information and documents. We follow industry advertising practices and we intend to respond fully to the subpoena and cooperate with the investigation.

This stock has a long track record of making big moves off corporate PR, only to see it fall back down later as news is digested or results further scrutinized. I'll roll the dice here that this is not the beginning of a decades long trek to relevance.

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