Unity bosses sold stock days before development fees announcement, raising eyebrows
www.eurogamer.net
Unity executives sold thousands of shares in the weeks leading up to last night's hugely controversial announcement it …
  • Szymon@lemmy.caEnglish
    525·
    1 year ago

    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.

    • RaoulDook@lemmy.worldEnglish
      3814·
      1 year ago

      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.

      • teawrecks@sopuli.xyz
        71·
        1 year ago

        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:

        Tomer Bar-Zeev, Unity’s president of growth, …sold 37,500 shares on September 1 for roughly $1,406,250, and board director Shlomo Dovrat, who sold 68,454 shares on August 30 for around $2,576,608.

        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…

        • Neuromancer@lemm.eeEnglish
          2·
          1 year ago

          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.