There are all sorts of ways one can make suspiciously well-timed trades, such as working in the conflicts resolution office at Goldman Sachs. A better one, at least in terms of not going to jail, is running a vaccine-developing pharmaceutical company during a global pandemic.
Executives and directors at Pfizer Inc., Moderna Inc. and other companies developing Covid-19 vaccines sold approximately $496 million of stock last year…. Executives and directors at the same 13 companies sold about $132 million of stock in 2019, according to insider transaction data from research firm Kaleidoscope. More than 8.5 million shares were sold last year by insiders at these companies, compared with 4.7 million shares in 2019….
Some of the selling was part of preset trading plans that were established before the pandemic. The rest was mostly part of preset trading plans that were changed or adopted after vaccine development was under way…. Preset trading plans often are set up to allow officers who might have access to nonpublic information to sell shares without exposing themselves to charges of insider trading…. Moderna and Pfizer insiders who set up preset trading plans last year all had cooling-off periods of less than three months.
If Jay Clayton still gave shit, he’d be supremely annoyed. Anyway, there’s another perfectly good way to make money on the misery, loneliness and death currently blanketing the globe, and that’s to just read the newspaper and trade the obvious.
Jana Partners bought 811,661 shares in Laboratory Corp of America Holdings, known as Labcorp, making it one of the firm’s five largest investments, according to a regulatory filing made on Tuesday.