5 ms·

If Selerity was clever enough to short the stock before publishing this they probably made a nice chunk of change yesterday...

• shawabawa3 12y ago
  Wouldn't that be extremely obvious insider trading? (which is illegal, right?)
  • dvdcxn 12y ago
    Nope, because the information was already publicly available, it's just that nobody else knew about it!
  • dkrich 12y ago
    No, it's not insider trading if the information is publicly-available, which it was at the time.
  • lmm 12y ago
    That would be unlikely to constitute insider trading (which is less illegal than you might think). Selerity would not have been violating a duty of trust or confidence; whoever posted the earnings early may have violated such a duty but did not reap any material gain for doing so. So they'd probably be in the clear.
• damon_c 12y ago
  I don't know if clever is the right word for what they'd have to be to do that. I would guess though, that such a move would have been very obvious and easily discoverable by the relevant authorities no?
  • jmngomes 12y ago
    Why? It was public information accidentally released by Nasdaq, right?
  • dkrich 12y ago
    It would've been completely legal (and very smart) to do so.
• deet 12y ago
  I ran into someone from Selerity last night after this happened. I don't think they were able to do that, but he was still quite proud and happy regardless. I wouldn't be surprised if the extra business they will get from the event might be worth more than a quick short in the long run.