Shares of Overstock fell for the third day in a row following CEO Patrick Byrne's comments on the 'Deep State.'
of his involvement in the federal government's investigation into the 2016 election. In it, he referred to federal agents as "the Men in Black" and said he assisted in investigations related to the Clintons and Russian interference.
"I will speak no more on the subject," Byrne said in a statement. "Instead, having lived in places lacking Rule of Law and having witnessed the consequences of its absence, I plan on sitting back and watching the United States Department of Justice re-establish the Rule of Law in our country." "Having read the articles, we see the potential for the situation to have a negative impact on Overstock's operating results, given the controversy around the subject matter," Forte wrote in a research note. "As such, we will continue to monitor the situation to see if it does, in fact, impact the company's performance."
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