Think about it without the legacy: is this one-time action by Overstock really the only precursor to the GameStop short squeeze frenzy?
The GameStop situation arose from a unique market context with unprecedented pressure from retail investors, which is not a direct replication of previous corporate tactics.
Even if Overstock demonstrated a tactic, the environment in 2021 was significantly different, with trading volumes and coordination that would have forced buybacks regardless of any isolated precedent.
For example, stricter regulatory restrictions on trading platforms or limited access for retail investors could have dampened this leverage effect, even with similar strategies upstream.