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Home / Business / Overstock.com share price drops after CEO Patrick Byrne claims role in Russian probe and "political espionage" against Clinton, Trump

Overstock.com share price drops after CEO Patrick Byrne claims role in Russian probe and "political espionage" against Clinton, Trump



Stock prices for Utah-based online discount retailer Overstock.com have plunged this week, after its eccentric CEO Patrick Byrne claimed late Monday that he had played a key role in investigating the scandal over Russian meddling in US elections.

Byrne claimed in his statement that the connection happened while "helping to what is now known as the & # 39; Clinton investigation & # 39; and & # 39; the Russian investigation & # 39;" in 201

5, with FBI encouragement.

"Actually," Byrne said in a frenetic, four-paragraph news essay, "I am the notorious & # 39; missing Chapter 1 & # 39; of the Russian investigation."

Shares in Midvale-based Overstock.com, which Byrne bought in 1999, have since fallen 38.7%, from $ 26.06 early Monday to $ 15.97 at the Wall Street closing watch late Wednesday.

This stock price has fluctuated over the past two years between a high of $ 84.35 in January 2018 and a low of $ 9.48 in June.

Byrne, who is known for outlandish statemen ts, also referred in the news release Monday for advice from his "Omaha Rabbis" and to assisting "Men in Black", an allusion to the series of science-fiction action comedy films by the name.

After Byrne "put the pieces together in July 2018," the statement continued, stating that instead of assisting law enforcement, he had been part of what he claimed was political espionage against Hillary Clinton, Donald Trump and, "To a lesser extent," U.S. Sen. Marco Rubio and Ted Cruz.

Byrne said he reported his alleged role to "a congressman and a senior military officer" – without naming them – as well as to the U.S. Department of Justice and " a small set of journalists. "With Carter, based in Washington, DC, among them.

Carter's stories of his allegations" are accurate, "Byrne argued, adding that he would" no longer talk about the subject. "

Earlier Monday, Byrne said in a TV interview with Stuart Varney at Fox Business," I think we're about to see the biggest scandal in American history, "according to Market Watch.

The site called the story his "an insane Russian spy drama," with Byrne throwing himself as the star, noting that his statements came when Byrne sought a buyer for the e-commerce company, which reportedly lost money.


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