So Prometheus Biosciences. Takeover by Merck at $200 a share. Announced Sunday, Friday’s close was $114.
In my current little experiment I – while tooling around over a beer on Sunday night – said that at market open not everyone would have updated their prices. So, try buying right at 4 am.
Lo, and someone was able to buy RXDX at $130. And sell at $191 within the minute.
True, so far as can be seen it was one person globally. But a $10.5k outlay brought a $6.5 k profit in under a minute at pretty much zero risk. And it’s reasonably clear that it wasn’t my article which found that opportunity either (because it was obviously not me). But I did spot it, did get it written up and did publish ahead of time.
Most prideful.
Now, the other 49 ideas for this week then……
But I did spot it, did get it written up and did publish ahead of time.
Were you not in a position to take advantage then? Because if I had the capacity to spot opportunities like that I would position myself (and bollocks to the journalism).
“so far as can be seen it was one person globally.” Bet he lives in Ely.
Next step…
Prometheus
Saw the film. Anyone any clue WTF it was about?
Doesn’t that count as insider trading?
Or does nobody care about that any more?
Why would I be an insider?
Tim is incapable of insider trading because he it out standing is his field.