I mean, an IPO is a pretty reasonable point to allow insiders to trade. You’ve just published a huge amount of information about the company, so the insider advantage is at a relative low. It’s somewhat common for blackout periods to exist prior to things like earnings announcements, but after the announcement is usually when trading is permitted.
Well, spez and the COO sold over a million shares. I thought they’d be tied down by some kind of lock-in period.
Considering that ‘opportunity’ they gave to long term reddit users it seems like this fleecing was planned from the get go.
Quite frankly, this scam was so obvious, I have zero sympathy for anyone who fell for it.
Narrator: it was.
Yup, this is why I didn’t buy. I didn’t smell a good intention. (Although, I refrained from judging whether the price would go up or down.)
Did they?? Fucking grifters
Corpo exit scam?
I mean, an IPO is a pretty reasonable point to allow insiders to trade. You’ve just published a huge amount of information about the company, so the insider advantage is at a relative low. It’s somewhat common for blackout periods to exist prior to things like earnings announcements, but after the announcement is usually when trading is permitted.