What ever happened to Elon for pumping his stock causing it to enter the S&P500 and causing index funds to buy? That sucks because now I own lots of meme stock.
Also, don't short sellers literally do what is described in the article?
Yeah, but you're supposed to give half to Trump, duh! Haven't you been paying attention? A few million to the super-PAC and a 40% ownership interest in Citron Research should make this go away.
> The government’s position is that I should have known I couldn’t trade stocks I’d publicly praised—for some unspecified period of time. I didn’t lie, I simply traded too soon.
The part Left seems to be responding to in his article is:
> defendant LEFT often built his positions using inexpensive, short-dated options contracts that would expire within zero to five trading days and submitted limit orders to close his positions as soon as the Targeted Security reached a certain price.
As always, Matt Levine has a readable, insightful take that covers many different ways of seeing the world from the same set of facts and several inconvenient distinctions that various biased parties would prefer to be left out of the retelling: https://www.bloomberg.com/opinion/articles/2024-07-26/andrew...
> Add to this fatuous criminal charge the sad reality that the process is often the punishment. Even after Mr. Left's innocence gets determined by a jury, there's the strong possibility that he'll depart the courtroom to go home to the Poor House.
> See: Wall Street Journal 8 November 2015
> I Was an Oil Spill Scapegoat -- I helped cap the Deepwater Horizon well, The Justice Department then turned my life into a legal nightmare
> -- Kurt Mix, BP drilling engineer, who published a blistering commentary about the US Justice Department immediately following a major revision to the case. After two years of expensive, life-upending dealings, all of the felony charges got dropped, and, "I would plead guilty to a minor misdemeanor for deleting a set of text messages without BP’s permission—something I had acknowledged doing from the very beginning."
> Good luck Mr. Left...
I thought this was interesting on went down the BP prosecution rabbit hole.
5 comments
[ 4.5 ms ] story [ 39.4 ms ] threadAlso, don't short sellers literally do what is described in the article?
> The government’s position is that I should have known I couldn’t trade stocks I’d publicly praised—for some unspecified period of time. I didn’t lie, I simply traded too soon.
The criminal complaint is here, allegations begin on page 7: https://prod-i.a.dj.com/public/resources/documents/andrew-le...
The part Left seems to be responding to in his article is:
> defendant LEFT often built his positions using inexpensive, short-dated options contracts that would expire within zero to five trading days and submitted limit orders to close his positions as soon as the Targeted Security reached a certain price.
The generic term for the government's allegations is not "the opposite of insider trading", it is: https://en.wikipedia.org/wiki/Pump_and_dump
> Add to this fatuous criminal charge the sad reality that the process is often the punishment. Even after Mr. Left's innocence gets determined by a jury, there's the strong possibility that he'll depart the courtroom to go home to the Poor House.
> See: Wall Street Journal 8 November 2015
> I Was an Oil Spill Scapegoat -- I helped cap the Deepwater Horizon well, The Justice Department then turned my life into a legal nightmare
> -- Kurt Mix, BP drilling engineer, who published a blistering commentary about the US Justice Department immediately following a major revision to the case. After two years of expensive, life-upending dealings, all of the felony charges got dropped, and, "I would plead guilty to a minor misdemeanor for deleting a set of text messages without BP’s permission—something I had acknowledged doing from the very beginning."
> Good luck Mr. Left...
I thought this was interesting on went down the BP prosecution rabbit hole.