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Ding Dong The Witch Is Dead!!!

You had Martha Stewart Living Omnimedia shorted, didn't you?

NEW YORK (AP) - Martha Stewart was convicted Friday of obstructing justice and lying to the government about a superbly timed stock sale - a devastating verdict that probably means prison for the woman who epitomizes meticulous homemaking and gracious living.

Stewart was found guilty of conspiracy, making false statements and obstruction of justice. The charges carry up to 20 years in prison at sentencing June 17, but she will most certainly get much less than that under federal sentencing guidelines.

Trading in the company's stock was halted prior to the verdict announcement, but already indications are the company has lost 50% of it's pre-verdict valuation.
NEW YORK, March 5 (Reuters) - The New York Stock Exchange said on Friday afternoon that shares of the halted Martha Stewart Living Omnimedia Inc. (MSO) were indicated between a bid of $8.00 and an asking price of $10.00. The stock last traded on Friday at $16.34 on the NYSE.


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Comments (2)

Okay, since I suck at Photo... (Below threshold)
Adam:

Okay, since I suck at Photoshop, how long until we get to see a doctored version of "Martha Stewart 'Lying'"?

Brother, with $252 million ... (Below threshold)

Brother, with $252 million in sales in the last twelve months and $175 million in cash ($3.53 dollars in cash money per share), only the idiots are going to be selling next week.

This company can knock Martha Stewart's name off its logo and still be a good company.

More than 50% of the float is in short shares.

Buying MSO. It's a good thing.

And in keeping with SEC regulations, I don't own any of the stocks discussed and my firm doesn't have an investment banking relationship with MSO (my firm's not in banking at all). Ask me next week, and I might have to give a different answer to question #1.




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