Former Overstock CEO sells his stock, invests in gold, cryptocurrency - 2019-09-20

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F0.png Former Overstock CEO sells his stock, invests in gold, cryptocurrency September 20, 2019, Tony Semerad, Salt Lake Tribune

The founder and former CEO of Utah-based Overstock.com has sold his remaining $90 million stake in the company, saying he intended to invest the proceeds in gold and other holdings to protect his fortune from the "Deep State."

Patrick Byrne, 56, resigned abruptly from the online discount retailer Aug. 21 after disclosing he'd had an affair with alleged Russian agent Maria Butina while acting as a confidential informant for the FBI. He said at the time he sought to shield the firm after making allegations of being caught up in a conspiracy within the U.S. government involving political espionage against Donald Trump, Hilary Clinton and others.

A regulatory filing Wednesday indicates Byrne has sold more than 4.7 million shares in the firm, headquartered in Midvale. Shares in Overstock have traded at relatively low prices of between $16.32 and $21.84 a share over the past three days, as Byrne's shares were sold off. Shares had traded at a five-year high of $84.35 in January 2018.

Wikipedia cite:
{{cite news | first = Tony | last = Semerad | title = Former Overstock CEO sells his stock, invests in gold, cryptocurrency | url = https://www.sltrib.com/news/2019/09/19/former-overstock-ceo/ | work = Salt Lake Tribune | date = September 20, 2019 | accessdate = August 17, 2022 }}