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With its stock trading down significantly yesterday, the good folks at Overstock.com (NASDAQ: OSTK) decided that it was time for a press release: Worldstock Offers to Ship 400-Pound Rug for $2.95.

Sounds like an impressive offer, right? Well yeah, except that the rug costs $149,999.99. Chairman and CEO Patrick Byrne said that ""Of course you can't ignore the offer to ship the rug for $2.95 . That policy keeps our customers coming back and clearly, the person who buys this rug will enjoy great value."

Patrick: a lot of places would ship a $150 thousand rug for free. With shares of Overstock down about 5% as I write this, the press release doesn't seem to have captured the imagination of investors. It hasn't sold the rug either. If you're interested, you can buy the rug here.

For a look at Patrick Byrne's bizarre conspiracy theories, check out this item from Gary Weiss.

Overstock will ship 400 pound rug for $2.95 -- but it costs $150k! originally appeared on BloggingStocks on Thu, 03 Jul 2008 18:46:00 EST. Please see our terms for use of feeds.

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