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Unity Software Inc's President and CEO John Riccitiello Sells 2,000 Shares
(finance.yahoo.com)
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this post was submitted on 13 Sep 2023
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So he sells a bunch of shares right before the announcement that is likely going to tank their stock price
We should come up with a name for such an act
We should make it illegal too!
We need to make sure we come up with a way to enforce it as well!
Okay, you lost me there now buddy!
It actually is. The insider sells have to be announced well in advance.
Psst! That was the joke!
Makes it easier for executives to plan when to make announcements like this.
So he scheduled selling 2,000 shares 3 months ago. Then made the announcement a few days after the sales clear. Easily planned for on this type of announcement.
They also do the same thing for positive news that will increase the stock prices. Announce it a few days before their scheduled sale.
Creating a routine selling/buying schedule that coincides with expected announcement periods is pretty easy.