$15.78
0.70 (+4.64%)
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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This is my #1 bankruptcy candidate for the next year. It's not exactly like this company was doing spectacular anyway, but now there's all this to consider:
http://seekingalpha.com/article/105306-overstock-com-s-new-disclosures-show-company-financial-reports-were-a-joke
Negative book value, quick ratio of about 1, they are operating at a loss, and have been cash flow negative over the past nine months. I've never known anyone who shops at their website and I can't imagine any potential buyers lining up to make an offer for this company. Throw in fuzzy accounting over the past several years and a potential SEC investigation and this thing seems like it might be toast to me.
Here here. I've traded this over the years and now again entered a full out short position with PUTs.