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How convenient that insiders jumped on INTC with this "rumor" 3 days ago. They made about 25% from this in 3 days. Easiest money from a rumor.
by code51 2y ago
How convenient that insiders jumped on INTC with this "rumor" 3 days ago.
They made about 25% from this in 3 days. Easiest money from a rumor.
- baq 2y agoThe SEC really doesn’t like such plays. No wait that was a couple months ago.
- mrbluecoat 2y agoIs the SEC still around? I thought Elon announced he was eliminating all federal agencies this month containing a letter in the word Valentine.
- sangnoir 2y agoThe husk of the SEC with its brains scooped out is a useful tool to sic upon one's competitors or ideological enemies. I wouldn't be surprised by an SEC investigation into OpenAI in the next few years.
- IAmGraydon 2y agoYeah I was thinking the same thing. It's only a matter of time before Musk goes after Altman with the newly weaponized agencies.
- SR2Z 2y agoCan the SEC investigate private companies?
- sangnoir 2y agoYes. Public companies just have more reporting requirements, but as long as an organization deals with Securities like shares, they fall under the SEC's ambit, public or private. I think the OpenAI's non-profit to profit transition would have warranted a looking into by any administration, I suspect there will be additional personal animus driving this specific set of players.
- outside1234 2y agoThe SEC will probably still exist to punish enemies. So update your bio with a MAGA photo and something racist.
- SecretDreams 2y agoIf this was a real thing that would play out, the stock would go up far more than 25%. Still time for normal laymen to get in. Or it's not going to happen, by which case, it's going to go back down. Coinflips for everyone!
- code51 2y agoSometimes the play is only about the announcement itself, not the implementation - news about a possible big news - just like upcoming Trump tariffs.
- yndoendo 2y agoDaniel Kahneman, Nobel laureate in Economics, described this in his book, "Thinking, Fast and Slow". Saddam Hussein's capture caused oil industrial stock to climb because of the association between oil and the Middle East. After people realized that Saddam Hussein actually had no relevance to the price of oil or the product, the socks fell back down. Stock market is quite often pushed emotion and asinine assumptions versus logic and reasoning. Enough social media echo cambers can easily sway stock prices momentary to make a quick buck.