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Tuesday, October 17, 2023 1:28:05 PM
You act as though it doesn't happen. Execs do it and get away with it all the time. I will give you one example from my past.
I owned a stock with a CEO that talked to several of us on a weekly basis. The stock sat around $5-$6 a s share and he and the CFO had shares. We heard a bunch of glowing stories on the manufacturing process and the low cost and the terrific process. It was basically a replacement screen for phones that would not break and provide a huge profit.
The CFO sold over $1M in shares and the CEO sold some as well. i can't remember the details. The stock went up nicely at one point and then fell like a rock when it was discovered everything he was telling investors was a lie. Neither the CEO or CFO were punished in any way and came away with huge sums of money. Wall street is not a fair game and people that do wrong are not prosecuted as they should be.
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