Unity bosses sold stock days before development fees announcement::Unity executives sold thousands of shares in the weeks leading up to last night’s hugely controversial announcement it …

    • Szymon@lemmy.ca
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      1 year ago

      The stock is down 5.5% today. It’s down 6% from a week ago.

      The stock is up 0.5% from a month ago, and up a whopping 32% from 6 months ago.

      It’s down 50% from five years ago.

      What I’m getting at is that this announcement has very little movement on the stock price overall. Unless these bosses were clearing out their inventory thinking this news would kill the company, its possible these sales were normal transactions.

      • livingcoder@programming.dev
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        1 year ago

        “Normal transaction” after a fundamental change in how all games that use your product are financially responsible by novel, unmeasurable, and unrealistic metrics. No transaction prior to this kind of announcement is “normal” imo.

      • gila@lemm.ee
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        1 year ago

        The financial impact of this decision is entirely speculative at this stage. Unity’s next quarterly earnings report won’t be impacted by it. The market is attempting to price in losses that haven’t yet occurred. We won’t know how it affects stock price for awhile

        • jonne@infosec.pub
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          1 year ago

          Yeah, an announcement like this is the shit wall street lives for. Short term gain but a long term harm is what they’re all about. That’s why they love layoffs as well. Doesn’t matter that it screws with company morale, short term the company makes more profit!

      • Andy@slrpnk.net
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        1 year ago

        Why would executives sell shares of their own company in any case?

        I could imagine selling a handful of shares to finance a big purchase like a house, but otherwise they shouldn’t ever be cashing out while they’re in charge. If they think they’re serving the company, they should be holding onto their shares.

        • Szymon@lemmy.ca
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          1 year ago

          The flaw is the notion that they serve the company. This is a parasitic class which serves itself above all else.

    • atzanteol@sh.itjust.works
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      1 year ago

      All trading by corporate officers is, by definition, “insider trading”.

      But as long as they did it at the appropriate times (usually windows after earnings calls iirc) and file with the SEC it’s fine.