386
Unity Software Inc's President and CEO John Riccitiello Sells 2,000 Shares
(finance.yahoo.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 13 Sep 2023
386 points (93.9% liked)
Technology
70995 readers
2963 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related news or articles.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS
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.