View: slopechart_OSTK.jpg

slopechart_OSTK.jpg

So I missed the Overstock short squeeze of 2019-2020 probably because health issues took me out of the game. 

Probably most here are up to speed, but I figured, what the hell, post it up on Slope. 

Of import to me was the TZERO outfit, who are hosting stock trading on the blockchain, an event I was unaware of completely, probably because there has been very little follow through or participation from Wall Street. 

TL:DR - Overstock issues shares on a blockchain. Because the blockchain features instantaneous settlement there is no venue for failed to deliver, phantom shares, or miscellaneous asshat chicanery to twank the price and shorts were forced to cover. Cherry on top is the SEC launches an investigation into Patrick Byrne for price manipulation or causing the squeeze. 

TL:REALLY NOT GOING TO READ: Why are markets not yet tokenized and blockchained? Because there can't be any monkey business with instantly settled transactions...

Image added via SlopeCharts
slopechart_OSTK.jpg

Comments

sandunessandunes
4 weeks ago
Mr. WizardMr. Wizard
Overstock, famous before then for naked shorting and shorts Failure To Deliver (FTD), Patrick Byrne vs Herb Greenberg, then at Marketwatch, who was constantly stirring the pot. 
In the same vein MS had a story about a CEO of a mining company that bought back all of the company's shares, ie 100% of outstanding shares, yet trading volume was hardly down. The SEC can only go after kids in basements because the guys that break the rules have money and will fight in court. 4 weeks ago
The Vulcan Sloper akaGrinThe Vulcan Sloper akaGrin
I didn't know that company still existed. 4 weeks ago
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sandunes
  • By: sandunes
  • 4 weeks ago
  • On: 6/2/24 4:02AM

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