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Lets talk OSTKO
...and rational behavior.
This is going to take a few tweets, but I'll lead with the conclusion:
Capital markets, $OSTK in particular, are broken. There's a very real chance that tZero is about to fix it. The dividend proves it can be done. Game OVER.
...and rational behavior.
This is going to take a few tweets, but I'll lead with the conclusion:
Capital markets, $OSTK in particular, are broken. There's a very real chance that tZero is about to fix it. The dividend proves it can be done. Game OVER.
$OSTK has declared a dividend of a digital preferreds OSTKO at a 1:10 ratio.
There exists ~125,000 shares of OSTKO outstanding. Overstock has authorized an additional ~4M shares, 3.7M of which will be issued via the dividend.
Byrne holds half the OSTKO outstanding.
There exists ~125,000 shares of OSTKO outstanding. Overstock has authorized an additional ~4M shares, 3.7M of which will be issued via the dividend.
Byrne holds half the OSTKO outstanding.
Accordingly, ~60k shares represent the tradeable OSTKO float.
Meanwhile, there are (we'll know more this afternoon) approximately 12M shares held short at various different brokerage houses, who will in-turn be obligated to buy 1.2M shares of OSTKO in order to deliver.
Meanwhile, there are (we'll know more this afternoon) approximately 12M shares held short at various different brokerage houses, who will in-turn be obligated to buy 1.2M shares of OSTKO in order to deliver.
