Friday, October 19, 2012

Google insiders sell before the plunge

Insider Monkey tracks this stuff, and Mish is reporting.  Google's main problem: Ads obn our mobile devices are not selling.  So before the revenue report, all the Google executives excercised their stock options, leaving the crash for the suckers the next day. Supposed to be illegal.

On Thursday, October 18, 2012, Internet giant Google’s reign as the world’s most impressive search engine slipped following an ill-timed mistake by financial printer RR Donnelley. The glitch included the premature posting of its third quarter earnings three hours early and a massive response from shareholders. The result was a downward nosedive in shares, a frantic trade halt ordered by Google executives, and a rapid scramble to recover what many have coined as “Google’s Earning Disaster.” Business Pundit
How do Google executives first sell on the bad news, then complain that the bad news was released too early?

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