I suggested a few days ago that $OSTK was a risky play, but it has bounced very nicely in the last couple of days and now is a whiff below $4.
Recent positive events:
- Jonathan Johnston, CEO, buys 30,000 shares yesterday at $2.6
- Appointed a permanent CFO in the person of Adrianne Lee, from Hertz NA
- Patrick Byrne, ex CEO, is now able to buy the stock after his lockup expires (6 months after he was ousted)
- E-commerce is well positioned during the COVID-19 lockdowns
- there are 7,590 open interest puts expiring tomorrow - likely they have been sold and someone may be interested in them expiring worthless
Given the stock has no debt and a good amount of liquidity to withstand the turnaround in retail, while BTC price is also bouncing to the $6,000s (furthermore strengthening the Medici portfolio), the stock is on a good path up but remains not for the faint of heart, given that the sudden drawdowns have been brutal to shareholders.
Recent positive events:
- Jonathan Johnston, CEO, buys 30,000 shares yesterday at $2.6
- Appointed a permanent CFO in the person of Adrianne Lee, from Hertz NA
- Patrick Byrne, ex CEO, is now able to buy the stock after his lockup expires (6 months after he was ousted)
- E-commerce is well positioned during the COVID-19 lockdowns
- there are 7,590 open interest puts expiring tomorrow - likely they have been sold and someone may be interested in them expiring worthless
Given the stock has no debt and a good amount of liquidity to withstand the turnaround in retail, while BTC price is also bouncing to the $6,000s (furthermore strengthening the Medici portfolio), the stock is on a good path up but remains not for the faint of heart, given that the sudden drawdowns have been brutal to shareholders.