(EDITORS NOTE: FIXED TO IDENTIFY MARIA BUTINA AS RUSSIAN AGENT) The CEO of Overstock said his time at the company is done after he caused a stir with comments about the deep state and confirmed he had a romantic relationship with a Russian agent.
Patrick Byrne's resignation Thursday sent shares of the e-commerce company surging as much as 15 percent.
A week after the stock plummeted following a stunning company statement titled: "Overstock.com CEO Comments on Deep State." In it, he refers to FBI agents as 'Men in Black' and confirms a report that he was in a romantic relationship with Maria Butina, a convicted Russian agent currently serving time in prison.
He also addressed his role in 2 high profile FBI investigations.
A probe into Russian interference in the U.S. election and another into Hillary Clinton.
For over a decade, Byrne - known for making brash comments - has publicly battled those betting against Overstock, which according to Refinitiv is targeted more by short sellers that 99% of U.S. companies.
The stock has fallen more than 70% from record highs in January 2018.
The company has appointed an interim CEO.