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mikeli_2010 Message

mikeli_2010's Space » All messages

  • batbeer2 2012-11-08 16:12
    Hi Mikeli

    I just saw your question about Overstock.

    1) IMHO Overstock is not unlike eBay. It is nothing but a website that brings supply and demand together. They don't actually own the merchandise they sell.
    2) They don't have debt.

    Based on these two facts, I believe 1x sales is s reasonable price. That;s how I get to $ 45. For sure, Amazon and eBay would pay much more to get their hands on OSTK.

    Then again, the market says OSTK isn't profitable. I believe is is deliberately depressing earnings. There are many ways they could report GAAP profits if they wanted to. They don't.

    I wrote an article about the company a while ago. http://www.gurufocus.com/news/168976/overstock-is-unbelievable--in-a-good-way

    Feel free to drop me an e-mail at [email protected]
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