Moderna unveiled encouraging Covid vaccine results. Then top execs dumped nearly $30 mill of stock.

[Squinch]

One of the former top execs of that company was the "vaccine czar" appointed by Donny Bodybags. The "vaccine czar" owns about $10 billion in Moderna stock.

https://www.cnn.com/2020/05/22/investing/moderna-coronavirus-vaccine-stock-sales/index.html

New York (CNN Business)Moderna's stock price skyrocketed as much as 30% on Monday after the biotech company announced promising early results for its coronavirus vaccine. As ordinary investors piled in, two insiders were quietly heading for the exits.
Moderna's chief financial officer and chief medical officer executed options and sold nearly $30 million of shares combined on Monday and Tuesday, SEC filings reviewed by CNN Business show.
The sales occurred after Moderna (MRNA) excited Wall Street before markets opened Monday by announcing encouraging vaccine trial results. Moderna's market value swelled to $29 billion -- even though the company has no marketed products.

Who is surprised by this?

[Thekaspervote]

1. Maybe dumped simply for the 30% return?

[Squinch]

2. Looks like it was an automated trade set to go when the stock price hit a

certain level.

Still, the company has no products and it is at the center of a stinking conflict of interest.

Looks like a pump and dump pig with lipstick on it.

[The Magistrate]

6. Lipstick, Foundation, Rouge, Mascara, Eye-Shadow, And A Bright New Big-Hair Blonde Wig, Sir

Insider trading charges ought to be brought.

[empedocles]

8. Selling smells bad

[crickets]

14. Agreed. nt

[hlthe2b]

3. that's a mRNA vaccine. Not one I'd be willing to bet the farm on for multiple reasons.

It hinges on the very selective spike protein component they chose as their mRNA focus to be more or at least equally antigenic as any other component of the actual virus. If they choose poorly and the antigen-induced antibody is only partially neutralizing, at best they have an ineffective vaccine. At worse, they may well be setting recipients up for an overwhelming and potentially deadly cross-reactive antibody response (antibody-dependent enhancement) when a vaccinee is presented with the actual virus. We saw that with the dengue and respiratory syncytial virus vaccines, although these were recombinant DNA vaccines and not mRNA vaccines, though the risk remains--well after initial safety and efficacy trials suggested they were 'good to go."

So, given all that they have detailed is a press release with no actual data, I have to wonder what, exactly they are seeing.

[Mike 03]

10. Interesting information.

Thanks for posting this.

[Roland99]

13. Over my head mostly but get the gist. Thanks!

[Vinnie From Indy]

4. Pump & Dump!

[gratuitous]

5. Well how dumb is that?

Don't those company executives know that their stock is going to just go up and up if the vaccine they're developing is legitimate?

Oh.

I think I see the problem here.

Oh well, Billy Barr's Department of Justice won't bother itself about this. They're too busy trying to find out who unmasked Michael Flynn from that report where Flynn's name was never masked.

[exboyfil]

7. My company has windows in which

even I (a mid-level engineer) can only trade (the days right after the quarterly reports). Selling after the announcement is better than buying before the announcement (assuming the announcement is truthful).

[uponit7771]

9. They are all pump and dump stocks now

[onenote]

11. Not me.

[Laelth]

12. So much for that vaccine.

Most likely, it isn’t going to work.

-Laelth