![]() We don’t yet have a way to know how many shares might have been sold into the final paroxysm of yesterday’s move. While the filing notes that he had not sold any shares or options at the time of the filing, there was a key one-day loophole.įorm 144 is dated August 16th, but it was posted on the SEC’s website late the next day. The media can’t help but discuss the phenomenal moves and volume, and new entrants come into the fray.īut, just as social media reaches a climactic frenzy, we learn that the buyer had filed to sell his holdings. The modest uptrend becomes a parabolic moonshot, and a sequence of double- and triple-digit percentage gains ensues. The meme stock is in play, the shorts get squeezed, and relentless call buyers push up the implied volatilities of call options. Normally, corporate insiders try to buy and sell holdings as quietly as possible, but a certain insider has demonstrated his propensity to buy stocks in a (legal) manner seemingly designed to create positive momentum.Īt this point, social media does the heavy lifting. You can, say, buy a big slug of call options in a manner designed to attract attention. You have opportunities to influence stock prices that regular people don’t. ![]() Now let’s say that you are an insider at that company with a huge social media following. ![]() For a normal person, that would be a tough pill to swallow, and you would have little choice but to decide whether to take a painful loss or wait for a rally that may not come. ![]() Let’s say you bought a big slug of stock earlier this year for an average price of about $15.35, then had it briefly double before its value got cut by nearly two-thirds. Key takeaways from minutes of Fed’s FOMC meeting held on July 26-27Īlso Read: Top 5 equity holdings of Warren Buffett’s Berkshire Hathaway portfolio ![]()
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