Comment on Unity Software Inc's President and CEO John Riccitiello Sells 2,000 Shares
Brokkr@lemmy.world 9 months agoPrice is tanking at the opening bell while the market overall is flat or positive.
Comment on Unity Software Inc's President and CEO John Riccitiello Sells 2,000 Shares
Brokkr@lemmy.world 9 months agoPrice is tanking at the opening bell while the market overall is flat or positive.
Ranvier@sopuli.xyz 9 months ago
It’s hard to say sometimes, announcement was yesterday morning and it didn’t budge it much. It could also be related to the consumer price index showing an inflation uptick this morning compared to July, raising concerns for more rate increases. That report was just released this morning so seems a more likely cause for a change today.That tends to hit faster growing tech companies with poor p/e ratios like unity. There are other companies with the same pattern today, and the drop around the same time. Maybe you could argue the backlash wasn’t felt to overnight or something? But it’s the stock market, no one can really say for sure. Not that insider trading and things aren’t huge problems, but a ceo who’s paid in stock and has regular planned in advance sales of that stock doesn’t seem quite the conspiracy to me in this specific case. This was another single 2,000 sale, small in comparison to the 50,000 shares sold so far this year alone for this guy. Ceos often have pay and bonuses tied directly to share price, so the idea they would force a policy they thought would lose money in a conspiracy to tank the share price all to sell another 4% of the total amount of stock he’s sold this year at a 5% profit seems like a bit of a stretch to me.