2 ms·
Companies do it all the time. They buy and sell their own stock, based on information that never makes it into a financial statement, for example. Trading anot
by damoncali 16y ago
Companies do it all the time. They buy and sell their own stock, based on information that never makes it into a financial statement, for example.
Trading another company's stock based on secret information is also very much legal. Mark Cuban practically made a sport out of it with http://sharesluth.com http://sharesluth.com
Now if there was major market collusion by industry giants to combine data and do horrible things, you're getting out of my knowledge range, but there's nothing generally illegal about trading on info nobody else knows about.
- count 16y agoI believe the limitation on trading on secret information is limited to 'privileged' information, not 'secret'. If you're entrusted with the information by the company (as an employee, officer, consultant, etc.), you are not allowed to use it. If you discover it for whatever reason, and have no actual relation to the company, I don't think it counts - that's how Mark Cuban gets by with Share Sleuth. That said, IANAL, so don't take that as legal advice :)
- tnorthcutt 16y agoThat's http://sharesleuth.com/ http://sharesleuth.com/ FYI.