- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
Archive.org mirror: https://web.archive.org/web/20230914133443/https://www.eurogamer.net/unity-bosses-sold-stock-days-before-development-fees-announcement-raising-eyebrows
This shit can’t be legal. Do we have any lawyers on here?
It only looks like insider trading if you forget the definition of insider trading and only read a headline curated to ignore the important details that show small, consistent sales across time regardless of company activities.
Well yeah of course I didn’t read the article. I don’t give much of a fuck about it. I took the headline at face value (“sold stock days before announcement”) and fired off my Lemmy content into the ass crack of this butt land. You’re welcome.
Removed by mod
CEOs have to schedule their sales many months ahead of time. Also, it was 2000 shares, which is peanuts.
The article is focusing on this guy because people know who he is. Instead, they should be focusing on the board members who sold tens of thousands of shares right before the announcement. From Kotaku:
Source
That is way more sus.
Also, I actually didn’t know this until yesterday, but CEOs are also permitted to buy shares of their own company, so long as they clear the purchase with the SEC. But that would indicate they’re optimistic about their company…
It’s actually common for ceo to buy shares to show they have faith in the company.
It’s like a sale. They have to plan it in advance to clear the insider trading rules.
My previous company the ceo bought several million dollars of shares during the early COVID dip. It was to show he had faith in the company.
It’s why it has to be clear to make sure it’s not manipulating the market since it sends a strong signal to everyone.
Removed by mod