News for hackers. Stuff that matters.

A comment on A SpaceX engineer's dark web insider trading sparks an SEC first. Parent comment

Re:A SpaceX engineer's dark web insider trading sparks an SE... by Consultant32452 on Sunday March 21, 2021 @08:04PM (#26535314)
Congress gets a lot of info first. For example, some got caught making trades after they got briefed on covid, before the info was public.

They know who's about to win big contacts in their district. They know who is about to be affected be legislation that was snuck into the budget last minute without debate.

[ Parent | on HN ]
Re:A SpaceX engineer's dark web insider trading sparks an SE... by koheripbal on Sunday March 21, 2021 @08:42PM (#26535530)
A lot of people know about a lot of things before the "public" knows. That doesn't make it "insider trading".

It is a very specific legal term that deals with the internal information of public corporations - eg: their quarterly sales revenues.

It doesn't make sense out of that context.

Also, there were TONS of people talking about the outbreak in China when those Congresspeople sold shares. I sold at the same time. The information was out there - it's just that the Western MSM wasn't covering it.

[ Parent | on HN ]
Re:A SpaceX engineer's dark web insider trading sparks an SE... by Consultant32452 on Sunday March 21, 2021 @09:44PM (#26535959)
The people talking about the outbreak didn't get classified briefings.
[ Parent | on HN ]