Robert Schmidt and Ben Bain
Bloomberg, 18 May 2020
If Overstock’s dividend plan proves successful, the implications for U.S. markets could be significant. More companies may decide to dabble in digital assets or add restrictions to their shares, especially if they find that doing so gives them more sway over their investors. On Wall Street, brokerage firms and exchanges are loath to see the launch of any security that raises the specter of a monopoly and could cut them out of trading and listing fees.
Comment: Bullshit on fees. What Overstock is doing is terminating the ability to do naked short selling with phantom shares. Ask why is it that hard to match shareholders with a dividend. THEY cannot its Musical Chairs and IF they stop the Music there are not enough chairs to match shareholders. And now you see the fight (and the light). Funny how stock settlement system controls a PUBLIC company has nothing to do with how a company works BUT it sure ruins it. Fuck Wall Street. Time Overstock and Patrick Bryne won big.