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Interesting, according to a BI article[1], 1. Byrne alleged HF's (e.g. SAC/Cohen) were colluding to short Overstock. 2. Byrne claimed that naked short sell
by caminante 11y ago
Interesting, according to a BI article[1],
1. Byrne alleged HF's (e.g. SAC/Cohen) were colluding to short Overstock.
2. Byrne claimed that naked short selling resulted in 6x the "actual supply"
of overstock shares in the market (i.e. Short sellers were borrowing=>selling
a lot of shares without actually securing those shares.)
3. Byrne took out a $100K ad in the WSJ in 2013, saying FU to SAC when
Cohen was forced to scuttle his firm due to reg investigations.
[1] http://www.businessinsider.com/overstockcom-ceo-explains-anti-sac-ad-2013-7 http://www.businessinsider.com/overstockcom-ceo-explains-ant...