Shares of the company, which offers a range of lower-priced luxury goods, fell about 16per cent on Thursday after a filing revealed that Byrne, Overstock's largest shareholder, had sold about 500,000 of his shares, or 9per cent of his stake.
"Not once have I ever asked a shareholder for his reasons in any decision he made. Yet, given the consternation this has caused, I will give answer, to preclude further recurrence of mass vapors," Byrne said.
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