July 30, 2018
Lookie here; Mark Zuckerberg was shorting his own company.
He and other top Facebook executives have sold off nearly $4.13 billion dollars worth of stock since the Cambridge Analytuca story broke. Zuckerberg alone cost the stock 85% of it's sell-off.
Why? One could theorize. Perhaps they wanted to drive Facebook stock down in price for some reason? They could swoop in and buy it back at a fraction of its market value. In the meantime they could make Congress and the American People believe they are being hurt by "fake news" and must regulate it - meaning they must censor Conservative content. Oh, and it helps stop the government from regulating them. See, we are losing money; we're not a monopoly after all. Or if we are we are one losing money, like the Amtrac.
This is promoting calls for an investigation for insider trading of Zuckerberg and the executive staff.
It is unfortunate because Facebook may be deemed "too big to fail" since a lot of pension funds hold stock. The end result may be a quiet non-investigation. But Zuckerberg and Facebook have made their bed with pythons and should be investigated, and the company should be treated like any media outlet rather than as a tech company.
If you have editors of news you are a media outlet. And as such you are subject to FCC oversight.
Not also it's by definition not insider trading if you sell based on public information, and according to the chart you linked to, those sales were after the "scandal" (that Republicans perhaps did the same thing Obama was fulsomely praised for in the 2012 election) became a thing.
Posted by: Anonymous at July 31, 2018 08:32 AM (FPIRN)
Yeah; it's not illegal but it certainly is unethical - like a George Soros operation.
Posted by: Timothy Birdnow at August 01, 2018 01:08 PM (jqGpL)
Posted by: Anonymous at August 01, 2018 02:36 PM (FPIRN)
That would be unethical. Not criminal, or punishable, but it is not a savory thing to do. Perhaps we could just call it unsavory and leave it at that? Yes, he has the right to do it, but if I were going to do that I would have done it in stages so as not to hurt stock prices.
I think this is an instance where we can agree to disagree. I appreciate your points and understand why you think what you do. I just believe Zuckerberg is playing a game here and am unwilling to cut him much slack. After all, he pretty much cheated his co-founder pretty royally and he's played games with conservatives, blocking our content. It does not bespeak a guy who deserves a lot of slack be cut for him.
I appreciate your take on it, though.
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