The senator bought the shares on the 28th; the day the company issued a press release. If you go to the link below, you'll see what looks like it might be insider trading by others, but that occurred on the 23rd, not the 28th. He bought along with everyone else when information was public and he sold to take a quick gain.
If you go to the link the parent provided and set the range for January 3, 2013 through February 3, 2013, you'll see the following:
-The stock traded at around $2.80-$3.00 from January 1-January 22. In other words for almost all of the month.
-On January 23 (Wed) the stock jumps to $3.75, stabilizing to around $3.30 a share by January 25 (Friday). Something is happening
-On January 28 (Monday) the stock gaps up and opens at around $5.00 a share. That day at 7:00 a.m. the company issues a press release that it has had success with a new renal drug:
If you know which direction the released news will move the stock and roughly when the news will be released, you could sit waiting to pull the trigger faster than most people who were not similarly advantaged. It would be silly to do something egregious, but competently leveraging a persistent informational advantage will still lead to significant relative gains in the long term.
The senator bought the shares on the 28th; the day the company issued a press release. If you go to the link below, you'll see what looks like it might be insider trading by others, but that occurred on the 23rd, not the 28th. He bought along with everyone else when information was public and he sold to take a quick gain.
If you go to the link the parent provided and set the range for January 3, 2013 through February 3, 2013, you'll see the following:
-The stock traded at around $2.80-$3.00 from January 1-January 22. In other words for almost all of the month.
-On January 23 (Wed) the stock jumps to $3.75, stabilizing to around $3.30 a share by January 25 (Friday). Something is happening
-On January 28 (Monday) the stock gaps up and opens at around $5.00 a share. That day at 7:00 a.m. the company issues a press release that it has had success with a new renal drug:
https://www.prnewswire.com/news-releases/keryx-biopharmaceut...