hello,
"The Wall Street Journal", analyzing forecasts for U.S. companies from the public market, observed 1468 cases since 2005 in which the company published a so-called. growth forecasts, announcing that their results will be better than previously expected, and later within 120 days decreased the same forecast. According the informations from SEC (Securities and Exchange Commission is U.S.) show that in 755 of these cases the CEO or board members of these companies sell shares between increasing and lowering of forecasts, ie, favorable to the sale.
In 2389 insiders who sold shares between changes in forecasts, about 74 percent would get less money for them if they waited for the transaction to lower forecasts. Stock prices lost by an average of 10.8 percent between the date of sale and the date of publication lowering forecasts.
According to the SEC, unfortunately there is have no methods, on the basis of these data difficult to determine if the seller knew before the transaction of upcoming bad information :)
regards,
oscarjp
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