According to Securities and Exchange Commission filings, executives and insiders sold nearly $500 million in Peloton stock right before it crashed last November.
Peloton Execs And Insiders Sold Off Close To $500M In Stock Before It Crashed — Must Be A Coincidence
“One of the most well-accepted facts from decades of research on insider trading is that corporate insiders buy near bottoms and sell near peaks,” said Daniel Taylor from Wharton.
DOJ Launches Expansive Criminal Probe Into Short-Selling And Potential Insider Trading On Wall Street
Regulators also moved to protect small investors from trading apps that use features common to video games, presumably to boost riskier trading activities.
Singer’s flagship hedge fund, Elliott Management, has been badly underperforming the market over the past decade.