Someone bought 5700 ImmunoGen $21 calls yesterday.

This morning, AbbVie announced that they are buying out of $IMGN.

Whoever that is turned a $500k investment into $3.5 million in less than 24 hours.

This is how insider trading works.

Categories: economics


anonymous coward · November 30, 2023 at 6:58 pm

Thank the God’s they aren’t trying to use legal methods to save a thousand dollars on property taxes each year.

    Divemedic · November 30, 2023 at 7:07 pm

    Evasion is the unlawful nonpayment or underpayment of taxes. Avoidance is minimizing tax liability within the law.
    I am using all of the methods that are within the law to avoid owing a tax.
    Insider trading is illegal.
    There is a key difference.

      EN2 SS · November 30, 2023 at 10:58 pm

      I’m probably wrong, but I think insider trading is legal for congress cretins.

        Steve · December 1, 2023 at 8:32 am

        No, you are right. The insider law they crafted specifically exempts Congress, substituting “Censure” as the consequence for insider trading under the theory that “The Honor of a Gentleman” will restrain the Congress person. (I’ll note a many laws Congress crafts have the same exemption, i.e. FOIA).

        Because of that, I read of a business that specifically tracked Nancy Pelosi’s stock trades, and did the same thing. They made a lot of (legal) money from that.

Jester · November 30, 2023 at 7:44 pm

Only question is if that person was in congress or not to me. I’d bet they have those connections.

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