281
Unity bosses sold stock days before development fees announcement, raising eyebrows
(www.eurogamer.net)
this post was submitted on 13 Sep 2023
281 points (95.5% liked)
Games
16752 readers
633 users here now
Video game news oriented community. No NanoUFO is not a bot :)
Posts.
- News oriented content (general reviews, previews or retrospectives allowed).
- Broad discussion posts (preferably not only about a specific game).
- No humor/memes etc..
- No affiliate links
- No advertising.
- No clickbait, editorialized, sensational titles. State the game in question in the title. No all caps.
- No self promotion.
- No duplicate posts, newer post will be deleted unless there is more discussion in one of the posts.
- No politics.
Comments.
- No personal attacks.
- Obey instance rules.
- No low effort comments(one or two words, emoji etc..)
- Please use spoiler tags for spoilers.
My goal is just to have a community where people can go and see what new game news is out for the day and comment on it.
Other communities:
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Isn't this insider trading? If I owned a company and sold all my stock and then tanked my company with stupid news, that'd be illegal.
Though I'm surprised they sold it before the news. This kind of fund-raising tactics piss off customers but investors usually love it, the short-sighted creatures they are.
It's obviously insider trader but laws are for the poors.
The guy who owns the company knows what it means for the long term stock price: a plummet. He knows that'll come eventually if these changes go through.
Investors may react positively to the news, but when they see the damage it actually does, they'll pull out too.
The guy running the company has shares that are valued way higher than when he earned them, he is sitting so high right now it's far worth selling here instead of gambling on the response to the news. It's just simple "quit while you're ahead".
"Illegal" doesn't mean much anymore if you're rich. No one seems to be enforcing anything cuz we can't get in the way of that trickle-down.
No it’s not. If he unloaded a huge bunch out of nowhere just before the announcement then sure, it probably is, but that’s not what happened - he has been consistently selling stock the whole year, buying none.
What likely happens is he is paid partly, or was at some stage, in stock. To convert it to cash you need to sell it.