So Newsweek spills the beans around 1PM on this big miss. All over the boards and wires. Tell us your tale of .........
I hear the rumor and didn't believe it cause newsweek has a bad record of stock tips. What "insider" would release that kind of information? I thought it was just some short hedge fund trying to drive down the stock. And I was totally wrong. One possible conspiracy theory explanation is that someone with the info wanted to short the stock to make money. But he couldn't do it without drawing attention to himself. So he leaks it to newsweek and now has an excuse to short.
Saw it, didn't take it though. It seems to me that I get caught on the wrong side of these plays more often than not, so I just try to avoid them.
Not a bad theory Htrader, but it doesnt explain the stupid CEO talking about earnings to his employees.
Actually the story in retrospect did have the ring of truth to it. Too clear cut to be a total fabrication. Would have needed to get it from the horses mouth to be sure though. 500% gain on the options.
Will this be a story in the days to come, with the Monday morning briefing considered a violation of Reg FD? Just a thought, input welcome. I can almost sense a bunch of lawyers lining up to commence class action law suits against the CEO.