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Comment by dgritsko | Hacker News Reader

Is this the first actual corporate news from GameStop itself during the frenzy of the last several weeks? I'd love to have been a fly on the wall in one of their boardrooms during the maelstrom, when they were a front page story for basically every news site on the planet.

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I mean they probably weren’t doing anything except rapidly trying to sell their stock options that had 100x’d. They more than anyone knew they weren’t worth $325 a piece.

Sales from officers have to be scheduled in advance precisely to prevent that kind of behavior.

I mean, they have to be scheduled in advance to avoid even the implication of trading based on non-public information.

I would find it hard to believe an accusation of "insider trading" if an GameStop officer sold a bunch of stock last week, rather than the much more likely public-information explanation of "we're definitely not a $25B company and everyone knows it".

Scheduled sales are not required, only recommended. If an unscheduled sale is made, there might be insider trading issues, and might trigger an investigation. That said, it would be easy to argue the sale was due to public information, i.e. the stock going up 100x in 6 months.

See Rule 10b5-1

Yes, that is why I shared it. It is the first times we heard anything from them since this frenzy began.