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I'm a Tesla bear, I've shorted Tesla a few times over the last several years, but I've heard from insiders that they are going to hit their initial deadline, an
by pfarnsworth 10y ago
I'm a Tesla bear, I've shorted Tesla a few times over the last several years, but I've heard from insiders that they are going to hit their initial deadline, and they are already testing Model 3s on the roads, in a Model S form factor. That means I'm going to stay far away from this stock, at least as a short.
- pmorici 10y agoDid you just admit in writing on a public forum you have inside information on a company and trade their stock based on it?
- OriginalPenguin 10y agoActually I think he said he has inside information and wasn't going to trade their stock on it.
- hinkley 10y agoA bold move, Cotton. Let's see if it pays off for him.
- dagw 10y agoThat in itself is not illegal. It all depends on how he got a hold of the information.
- kybernetikos 10y agoI found the exact rules on this quite interesting. https://en.wikipedia.org/wiki/SEC_Rule_10b5-1#A_possible_loophole:_canceling_plans https://en.wikipedia.org/wiki/SEC_Rule_10b5-1#A_possible_loo...
- Symmetry 10y agoNot a lawyer but unless he's an employee of Tesla or otherwise got his information through his employment then he's not an insider for purposes of insider trading regulation. https://en.wikipedia.org/wiki/United_States_v._O%27Hagan https://en.wikipedia.org/wiki/United_States_v._O%27Hagan https://en.wikipedia.org/wiki/Chiarella_v._United_States https://en.wikipedia.org/wiki/Chiarella_v._United_States Which isn't to say the SEC wouldn't go after him. Cops arrest people in the US for photographing public things all the time, for instance. Just that if it went to court he'd probably win.
- pfarnsworth 10y agoI should have clarified, those are rumors that I heard online from alleged insiders a few months ago. I don't have real insiders information, otherwise I wouldn't be roughly break-even on my Tesla trades.
- nathancahill 10y agoCool