this post was submitted on 14 Sep 2023
50 points (100.0% liked)

PC Gaming

332 readers
1 users here now

Discuss Games, Hardware and News on PC Gaming **Discord** https://discord.gg/4bxJgkY **Mastodon** https://cupoftea.social **Donate** https://ko-fi.com/cupofteasocial **Wiki** https://www.pcgamingwiki.com

founded 1 year ago
 

CEO John Riccitiello sold 2,000 shares a week before Unity revealed its Runtime Fee

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 9 points 1 year ago (1 children)

I have no doubt that this guy is scummy, but this is a total nothingburger. He sold, for him, a tiny number of shares on a day where the stock was slightly above where it had been averaging, but even right now it’s still up for the month. Moreover, the expectation of every executive at Unity must naturally be that they expect to make more money with this new plan. Some developers and gamers may be mad, but Wall Street should be happy and the stock price should go up.

Phrased another way: he sold stock a few days before announcing a plan to increase company profits.

[–] [email protected] 8 points 1 year ago* (last edited 1 year ago)

Typically there's some kind of plan where they have to announce sale of shares well in advance or a 'trading window' when they can buy/sell shares freely.

Insinuations of insider trading are going off too little info so far. That said it's not a good look for any of those people and I'd guess the FTC will investigate them.