SEC rules for insiders are pretty strict. And he already made billions on the IPO. Even with the stock price crashing he’s still making a bundle, so I doubt there’s any reason for him to take a risk on illegal trading.
From what I understand; he can try to get a loan against the stock, but it is apparently unlikely any bank would make those loans given hes not allowed to sell the stock for another five months now.
It’s not a law that says he can’t trade his shares for six months. It was part of the deal going “public” (they loopholed out of having an IPO). That deal also can be changed by the board of directors. That board is just sycophants like Devin Nunes and one of his sons he doesn’t hate.
SEC rules for insiders are pretty strict. And he already made billions on the IPO. Even with the stock price crashing he’s still making a bundle, so I doubt there’s any reason for him to take a risk on illegal trading.
Did he make billions? I know the media reported that his net worth had jumped billions from the increased valuation of the stock.
The more honest media also reported that he was unable to take advantage of that valuation because he couldnt sell any of the stock.
It is true that he doesn’t realize that gain until he sells. Which has to be disclosed ahead of time. Which could negatively impact the price.
From what I understand; he can try to get a loan against the stock, but it is apparently unlikely any bank would make those loans given hes not allowed to sell the stock for another five months now.
It’s not a law that says he can’t trade his shares for six months. It was part of the deal going “public” (they loopholed out of having an IPO). That deal also can be changed by the board of directors. That board is just sycophants like Devin Nunes and one of his sons he doesn’t hate.
Yeah I said that earlier in this comment chain.
Reason? How about stupidity as a reason?