Anyone else following the Mark Cuban insider trading stories?
I don’t really understand why this is a big deal either, but I think it has to do with misleading stock holders. Like for example Mark Cuban got the hook up from the CEO of mama.com or whatever the company is and he was a majority shareholder. He sold his stock after finding out that the company was gonna lose a lot of money soon and a lot of people who bought that stock bought it because a big shot like Mark Cuban owned it. So, he was giving them insurance that it was a valuable stock and when he sold all his shares those people lost money because this actually sped along the failure of this stock. See I obviously know very little about insider trading lol, but that’s what I think it all means. But, Mark Cuban will be alright, I doubt he’ll get in any trouble.Mark Cuban (Dallas Mavericks owner and billionaire blogger) is apparently in a bit of trouble for acting on some inside tips.
And I’d say more but I really don’t understand the whole insider training thing. When I worked at the hospital over the summer, and I saw someone buying something from the vending machine, I’d stop them and say, “Hey, you know, you can get that for less than half the price in the gift shop.” Are they wrong for taking my advice? Teach me.