Funky stock sales at Moderna

[jon-nyc]

This npr piece is a bit sloppy about the rules around executive stock sales but the reports of the legal counsel and chief medical officer having sold almost all their stock are not encouraging.

https://www.npr.org/2020/09/04/908305074/bad-optics-or-something-more-moderna-executives-stock-sales-raise-concerns

[Mik]

Does not inspire confidence, does it?

[jon-nyc]

Especially selling all their shares.

I could see half as a hedge. If it fails, you took half off the table, if it succeeds, your remaining half is worth many times what it was when you sold the first half. That’s a reasonable hedge especially for an exec that didn’t already have a big nest egg.

But selling all? When you’re the Chief Medical Officer?

[Mik]

That is going to be looked at closely I would think. Unless it is some ploy to make the price drop, pick it all back up and more then cash in when the vaccine is successful. But I seriously doubt that.