Reply #79

Again, you or I as private individuals, are going to invite a lot of scrutiny and be subject to a lot of rules (you sound far more conversant about them than me). But a big outfit like Goldman? Who knows how they operate, and through how many channels? It's a fine art finessing that 4.9% of shares outstanding so as to avoid reporting requirements. In addition, I wonder if Goldman was operating through several frames, short-selling 4.9% through Acme Consolidated and another 4.9% through Consolidated Acme, but all those transactions ultimately being controlled by Goldman? I don't know if the rules cover that kind of manipulation, and Goldman was certainly doing its level best to keep it under wraps.

As long as nobody can really unravel who's behind all this short-selling activity, nobody who holds Overstock shares is going to know that there's some desperate investment house somewhere frantically (or not) trying to put together 107% of the outstanding shares. All investors really know is that Overstock shares aren't being delivered as promised, which depresses the stock price even further.