Insider Trading@ Applemanagement.com
Well, I read through the Q3 warning thread and only saw one comment made with no replies.
My questions is: How the F.UCK can Apple execs get away with selling stock in MASSIVE proportions right before a Q3 warning? The stock is down 5 points in the last few weeks. That is $500 of MY MONEY.
HOW the hell can this be allowed to happen? They HAD to KNOW about the sales trends.
This is blatant.
:eek:
[ 06-19-2002: Message edited by: SDW2001 ]</p>
My questions is: How the F.UCK can Apple execs get away with selling stock in MASSIVE proportions right before a Q3 warning? The stock is down 5 points in the last few weeks. That is $500 of MY MONEY.
HOW the hell can this be allowed to happen? They HAD to KNOW about the sales trends.
This is blatant.
:eek:
[ 06-19-2002: Message edited by: SDW2001 ]</p>
Comments
note: I have a reasonable understaning of the markets. I am long term investor for most positions. My real concern is morality and legality of managment's selling stock.
[ 06-19-2002: Message edited by: SDW2001 ]</p>
I smell class action lawsuit.
[ 06-19-2002: Message edited by: SDW2001 ]</p>
In this case, I think they actually were cashing out options. That is, they had an option to purchase the stock at a price less than the current market price. They executed buys and sells on the same day to gain the benefit that was part of their compensation package.
Anyways what's the big deal? Apple is still profitable, just not as much as they predicted. I could have told you that myself based on their pro liines. What you think nobody cares about value or performance? Guess again, sucker!
Take a lesson from Enron and don't put all of your eggs in one basket. Apple execs don't, GE execs don't.
There's no class action suit here, move along.
--Mike
Gee thanks! I was just that stupid! I gambled 50% of my net worth on AAPL. Right. [/sarcasm].
PS: I actually have a net worth. Do you?
[quote]Don't get your panties in a knot, this is a common practice. They're not doing anything wrong. <hr></blockquote>
Says who? You? I think what they did was blatant. They HAD to know the stock would drop when that warning was issued.
Does anyone know how long ago these withdrawals started? Considering that they issued a warning this week means they probably figured out the numbers no more than two weeks ago at most, likely last week. If these guys were withdrawing money six weeks ago, it's unlikely they had the full picture except that things were tight.
You always risk a sympathetic downturn in the stock, so if you thought this would be a reason for them dumping stock, you should have dumped it then.
Anyway, it's all moot because it was done in the open with the SEC.
Yes I do have a net worth, and it isn't based on money you shallow capitalist pig. If Money is your endgame, then what the hell are you doing with Apple stock, anyways?
Had they not done that then the SEC would be all over them, but as was said, the amount was so large that it's hard to believe someone was trying to hide it.
The stock market is a gamble, lots of people get burned. Hell there are people (they should have diversified) at Enron who lost their entire life savings! Now it's those people for whom I feel sorry.
If you don't want to lose money, don't risk it in the market. <img src="graemlins/hmmm.gif" border="0" alt="[Hmmm]" />
[ 06-20-2002: Message edited by: BlueJekyll ]</p>
<strong>
Yes I do have a net worth, and it isn't based on money you shallow capitalist pig. If Money is your endgame, then what the hell are you doing with Apple stock, anyways?</strong><hr></blockquote>
I suppose you said that in 1996/97 as well. Shame. you could have made a fortune.