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A comment on Is it insider trading if I bought Boeing puts while inside the wrecked airplane?. Parent comment

Re:Is it insider trading if I bought Boeing puts while insid... by Aerroon on Sunday January 28, 2024 @02:00AM (#39163190)
But how does this square with rumors? Is trading based on rumors illegal then?

"I heard a rumour that their defect rate is very high for this new product."

Information that isn't meant to be public might still send up circulating sure to mistakes etc. How would you determine whether trading based on it would be legal or not?

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Re:Is it insider trading if I bought Boeing puts while insid... by arthurcolle on Sunday January 28, 2024 @04:18AM (#39163856)
Hearing a rumor isn't illegal.

Hearing and trading on a specific statement by an insider at a public company, as an outsider, is insider trading. It's not that complicated

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