So, do you think the Whole Foods CEO might go to jail for anonymously attempting to influence the price of Wild Oats’ stock, only to later buy the company?
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July 13th, 2007 | Virgin Territory, Web/Tech
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July 13th, 2007 | Virgin Territory, Web/Tech
So, do you think the Whole Foods CEO might go to jail for anonymously attempting to influence the price of Wild Oats’ stock, only to later buy the company?
4 comments ↓
I think Mackey’s an idiot for doing what he did, but I seriously doubt anyone will successfully trace a drop in Wild Oats’ stock directly to his anonymous comments. Wild Oats’ troubles are bigger than anything Mackey’s comments could have caused. Without a connection, I’m going to guess he’ll get a slap on the wrist.
I’m a Whole Foods shareholder so perhaps my views are tainted, but as far as I’m concerned anyone who makes valuation decisions based on one stranger’s anonymous comments in an online forum should get out of the stock market and stay out. It’s seriously for their own good.
And for Whole Foods’ own good, perhaps Mackey should step aside for a while.
Just my $0.02.
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A CEO making comment and purchasing stock… hmmm… doesn’t the SEC have a blackout period for CEO’s during which CEO’s and others in certain inhouse corporate positions may not purchase or sell stock in their own companies? I think so, really think so. And it’s not just a technicality.
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