Insider Trading

Date August 3, 2005

At 6:40am EST, it came across news wire that the Wall Street Journal has published an article revealing that Adidas is offering to buy out Reebok in a $4bln all cash deal. The merger is to position the new company against Nike worldwide.

As a day trader, you’d know that the price of Reebok is sure to jump up. However, that news wasn’t available to common folks like myself yesterday. But apperantly, someone knew something. So along the trail that RBK made to it’s high yesterday, was my blood all over that trail. =/

If you didn’t know that there was a pending merger, wouldn’t you say to yourself that it has to go down sometime??

Category Posted in Trader

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