Insider Trading? Huge Bet Made Shortly Before STAT News Report Touting Gilead's Remdesivir ResultsChris Menahan
Apr. 20, 2020
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STAT News writer Adam Fuerstein's market-moving article on Thursday touting leaked early trial results for Gilead's drug Remdesivir is raising suspicions and has one congressman calling for a Securities and Exchange Commission investigation.
Trader Tian Zeng on Thursday night highlighted a suspiciously timed large bet that Gilead's stock would surge within around 24 hours:
The mystery investor appears to have made a killing.
From CNN, "Congressman calls for SEC investigation into leak about possible coronavirus drug":
A congressman on Friday called for the Securities and Exchange Commission to investigate the leak of a video showing physicians at the University of Chicago speaking enthusiastically about an experimental drug to treat Covid-19.CNBC's Jim Cramer on Thursday touted Feuerstein as "the best there is and a great friend" and praised his article:
On Friday, CNBC also had Feuerstein on the air:
As I reported Friday, the media hyped this report massively with little skepticism -- despite being hyper-skeptical of hydroxychloroquine and relentlessly bashing Trump for touting it.
As Rep. Doggett said, this demands a thorough SEC investigation.
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