/biz/ - Business & Finance

Let me break this down for the simps who actually believe this was insider trading:

>Insider Trading
the illegal use of non-public material information for profit. Receiving insider information isnt illegal, but acting on it is.

>Insider information
knowledge of material related to a publicly-traded company that provides an unfair advantage to the trader or investor

>Example
A CEO of a publicly traded company accidentally discloses his company is purchasing another publicly trading company at a 10% premium to his asian masseuse. The asian masseuse buys a shit ton of shares in the company being purchased and the shares sky rocket once the news is released to the public. She profits big time.

Congressmen receiving a research report about a virus in china and deciding to sell stock is not insider trading. Anyone could have done research and no one knew how it would affect the stock market.

/biz/ i am disappointed in you. You should know this stuff.