= Insider trading
{wiki=Insider_trading}
Insider trading refers to the buying or selling of a publicly-traded company's stock or other securities based on material, nonpublic information about the company. It is typically illegal because it violates the principle of fairness in the securities markets, as it gives an unfair advantage to those who have access to confidential information. Material information is defined as any information that could affect an investor's decision to buy or sell a stock, such as earnings reports, mergers and acquisitions, or changes in management.
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