BIDZ (Nasdaq) debuts on the IBD100 list at #2 + article in 11/19 IBD paper

[billyjoe]

Read the following ..shill bidding.....their main supplier is a "convicted" felon ah yes that does instill confidence in BIDZ LOL

http://www.citronresearch.com/index....om-nasdaqbidz/

Pete,
I looked up ownership of BIDZ and the convicted felon supplier owned BIDZ stock worth 23 million a few days ago. Oh, well, don't feel sorry for him cause it's still worth over 10 million. Unless we're talking about 2 different convicted felons. I won't mention names.

------------billyjoe

[billyjoe]

I read all the posts...the one that struck me as funny was the guy who asked how IBD could list them as #2 when they got an F rating from the BBB?...Guess that joker doesn't realize that IBD had an F rating too not so long ago...Toby posted it and I checked it out...Now they have an A rating...I'll bet Billy's life that IBD went back and cleared up all their complaints after they saw Toby's post.

I sure wouldn't want to cause trouble by posting the IBD better business bureau rating on their forums. How long do you think a post like that would last?

-----------billyjoe

[IIC]

Pete,
I looked up ownership of BIDZ and the convicted felon supplier owned BIDZ stock worth 23 million a few days ago. Oh, well, don't feel sorry for him cause it's still worth over 10 million. Unless we're talking about 2 different convicted felons. I won't mention names.

------------billyjoe

How do you think Zinberg feels...He only gets paid a buck a year...plus 10,000 shares a month...Give it a few more days and I'll be making more than him.

BTW...Here's what he has to say about Stock lemon:


AP
Bidz CEO Denies Citron Research Claims
Tuesday November 27, 7:16 pm ET
By Rachel Metz, AP Business Writer Bidz.com CEO Denies Claims of Shill Bidding, Excessive Inventory in Citron Research Report

NEW YORK (AP) -- Bidz.com Inc. Chief Executive David Zinberg late Tuesday denied several allegations in a Monday report by Citron Research, including that the company engages in shill bidding, holds excessive inventory and pays him 30,000 shares each month.

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Citron Research -- formerly known as Stock Lemon -- publishes reports online about companies it believes are misleading investors.

In a conference call, the online jewelry auction site operator's CEO called the report "untruthful and negative."
Zinberg also denied that shill bidding occurs on Bidz.com, saying the Culver City, Calif., company has strong policies against it.
He noted that up to 25 percent of the jewelry sold through the site is sold below cost, saying, "If we had shill bidding, we would not have jewelry sold at a loss."

Zinberg also refuted the report's assertion that Bidz' inventory levels are rising at least 300 percent higher than the company's revenue run rate.
Zinberg said high inventory levels are critical to Bidz's development since the company needs to bring in products and authenticate them before it can sell them.

The CEO also called allegations that he is paid 30,000 shares per month "absolutely false."

The report also alleges that Saied Aframian, who is a major Bidz shareholder and an owner of Bidz.com jewelry supplier LA Jewelry, has a criminal history.

On Tuesday, Zinberg said that he has known Aframian for seven years and was not aware of any criminal record until Monday.
"Bidz.com has a long relationship with LA Jewelry and has never had any reason to question the integrity of its dealing with Mr. Aframian as a shareholder," Zinberg said.
According to an LA Times article from June 1986, Aframian was convicted in 1985 of receiving stolen property at his Los Angeles-based secondhand jewelry store.

The Citron report was published online Monday by Citron editor Andrew Left. After it came out, Bidz shares began to decline. The stock fell 17 percent, or $3.38, to finish at $16.56 that day; on Tuesday, the shares sank $4.67, or 28.2 percent, to $11.89 on volume of more than 13 million shares. The average daily volume is under 500,00 shares. The stock has traded between $6.82 and $22.50 since its shares listed on the Nasdaq in June.

"Stocks react to truthful information. Stocks don't react to innuendo. So therefore, saying that my report made the stock go down -- no, the information in the report gave concern to investors," Left said in a phone interview prior to the conference call Tuesday.

Left said that he shorts Bidz' shares, which implies he stands to profit from a drop in the stock price.

Left added that he had not been contacted by Bidz.
Zinberg said that Bidz will pursue legal action against Citron during the next few days, and that he thought the company needed to address the report because of the stock's reaction.

In an e-mail note responding to Citron's report, ThinkEquity analyst Edward Weller wrote, "Most, if not all, of the 'facts' Citron cites are correct or 'technically' correct (i.e., sort of), but we are not sure that many of the 'facts' mean quite what Citron believes them to mean or hints that they mean. We are rarely confident about what is to be done with innuendo, and we don't quite know what to do with Citron's."

Weller also noted that comparisons of Bidz' allegedly excess inventory with companies like Blue Nile Inc. and Overstock.com Inc. are "not particularly illuminating because of very different business models."

[IIC]

I sure wouldn't want to cause trouble by posting the IBD better business bureau rating on their forums. How long do you think a post like that would last?

-----------billyjoe

Well...I never saved the original and they dealt with all the complaints...so it doesn't matter now.

I don't know what IBD would do with a post like that...But they never deleted all my old posts even after I told them to feel free to do so...Geez...It's been over 3 years since I posted there...time flies

[Peter Hansen]

Soon Pictures at the PO

Before Long ......we should see pics of the BIDZ bigwigs down at the Post Office LOL.......Curious .but is any one still bidding on that junk? . ......wonder if it pays to SHORT BIDZ .......although I think most of the juice is already squeezed out !

[billyjoe]

Pete,
Someone posted that there were no shares available to short. I think it was at IBD's forum.

----------billyjoe

[IIC]

Before Long ......we should see pics of the BIDZ bigwigs down at the Post Office LOL.......Curious .but is any one still bidding on that junk? . ......wonder if it pays to SHORT BIDZ .......although I think most of the juice is already squeezed out !

I'm just waiting for their Blowout Going Out Of Business Parking Lot Sale Now

[IIC]

Billy...Let's pretend I'm Bill O'Neil...Here is what I would tell those Canslim guys over on the BIDZ Topic at IBD Forums:

We told you the buy point was 15.29...We told you to sell if it went down 8%...Even if you didn't have a stop in the most you would've lost was 8%...Why didn't you sell when IIC sold?

[jiesen]

Before Long ......we should see pics of the BIDZ bigwigs down at the Post Office LOL.......Curious .but is any one still bidding on that junk? . ......wonder if it pays to SHORT BIDZ .......although I think most of the juice is already squeezed out !

I believe Riverbabe would have your answer...

[riverbabe]

I believe Riverbabe would have your answer...

Hey, I didn't have any trouble finding shares to short either yesterday or the day before! And I made a bundle both days. Hoping to get back in this morning, after that disastrous call yesterday after the bell. The funniest part was when David couldn't explain how 17 different customers were able to bid over $500,000 on that yellow diamond ring (see the very first listing on the site), and why would they do that? Did they check with a local jeweler first to get an estimate of its worth? Or just take BIDZ's estimate at face value? The really strange part is that BIDZ doesn't have a way of checking whether or not any of these bidders actually have $500,000 to pay for the ring. They said that all they know is these are "real people." The whole call sounded like those in charge who should know better are simply naive. Not very confidence-building for investors. It sounded like the person asking the question was doing his best not to laugh out loud!

I haven't liked this site from the first time I looked at it. They sell an awful lot of junk jewelry. And yellow diamonds are so rare that usually the ones we see now are white diamonds given the benefit of some pretty yellow dye. Scares the heck out of me to think about bidding on anything there. Besides, even Doug found the comp prices unrealistically high.

So, when I heard about the Citron report, I immediately shorted the stock. With great results for my bottom line at last! River

[TNtrader]

I am also short BIDZ at $19.

I have never payed a stock so well.

I bought it a while back at $12 and it ran, so I sold it just over $15 (after seeing their F rating at the BBB), it continued to run to the high last Friday, then I also saw the stock lemon report and shorted the sucker.

What fun!

[IIC]

Stock Lemon on BIDZ Part 2

http://www.citronresearch.com/

Unfortunately I cannot seem to get on their site at the moment...but I heard it is rather tame

[IIC]

Bidz.com to Investigate and Report Recent Trading Activity to Regulators

http://investors.bidz.com/ReleaseDetail.cfm?ReleaseID=279039

[IIC]

From Tate re: BIDZ... http://SelfInvestors.com

Now...Not 110% sure about this although I could go thru the archives to check if I had the inkling...But I think that site was one of many that IBD had contacted regarding site content..Not that it really matters.

http://seekingalpha.com/article/55567-bidz-com-citron-research-the-soap-opera-continues

[IIC]

Ah yes...my memory did serve me correctly: http://investing.typepad.com/trading...ht_has_be.html