major investment behaviors and major property disposal decisions of listed companies, such as asset restructuring, asset injection, and asset acquisition, are often interpreted as major positive news by the capital market. many investors like to inquire about such news, believing that relying on these so-called "insider information" to speculate in stocks can make huge gains. but in fact, insider trading is not only not necessarily profitable, but insider trading itself is prohibited by law.
a university professor song mou paid a huge price for insider trading. he bought stocks based on the insider information possessed by his former student chen mou, not only did not make any money, but lost more than 410,000 yuan, and was finally severely punished by the china securities regulatory commission.
chen acted as an intermediary for the merger and reorganization project of company g. after song contacted chen by phone, before the company's stock was suspended, he bought 931,000 shares of company g, worth about 7.163 million yuan. although song "lurked" before the suspension of g company's stock, what he never expected was that the two parties in the transaction decided to terminate the reorganization because they could not reach an agreement on important matters. due to the major restructuring expected by the market, the stock price suffered a setback after the resumption of trading. after song sold it, he lost more than 410,000 yuan.
there are ways to respect the teacher and respect the tao, and don't repay the teacher's kindness with "insiders". the teacher did not report the favor, but let the teacher lose money. not only that, song's behavior also violated the "securities law" on the prohibition of insider trading, and could not escape legal sanctions. according to articles 73 and 76 of the securities law, insiders of inside information and persons who illegally obtain inside information shall not buy or sell the securities of the company before the inside information is made public. article 2 of the interpretation of the supreme people's court and the supreme people's procuratorate on several issues concerning the specific application of law in handling insider trading and disclosure of insider information criminal cases also stipulates that, during the sensitive period of insider information, contact and contact persons with knowledge of insider information, engage in the securities transactions related to the inside information, and the relevant transaction behaviors are obviously abnormal, and there are no legitimate reasons or legitimate sources of information, which are insider transactions. according to article 202 of the securities law, song was fined 600,000 yuan and banned from the securities market for 10 years.
this story tells investors not to easily believe the so-called "insider information" of relevant personnel, let alone ask relevant personnel for such information. buying such stocks rashly involves both the risk of long-term suspension and the risk of asset restructuring failure. what is more serious is that such "inside information" that has a significant impact on the company's stock price cannot be disclosed in advance. it is illegal to use this information to inquire about such information and use this information to buy and sell stocks. profits will be subject to legal sanctions. therefore, investors should pay special attention to the investment risks and legal risks contained in "insider information", and do not simply "listen to news" or "listen to stories" to buy so-called asset restructuring stocks, let alone do everything possible to inquire about "inside information" for insider information in trading, we should still adhere to value investing and establish a correct investment philosophy: the real good stocks are not the so-called "news stocks" and "concept stocks", but those that have the ability to create good performance and can bring sustainable returns to investors. company stock.