LOL at Spotify. Laying off thousands of employees so you can sell stocks at a higher price..
Just days after laying off 17% of its workforce, Spotify is losing its CFO, too. Paul Vogel will step down at the end of March, Spotify said Thursday; he's been with the company since 2016, and in the CFO role since 2020. In a statement, CEO Daniel Ek said Spotify is "entering a new phase and needs a CFO with a different mix of experiences." ****Vogel exercised more than 47,000 stock options in a sale worth $9.38 million Tuesday — a day after the layoffs were announced. Spotify's stock had spiked 7.5% on news of the job cuts.****
Rather than crying about layoffs, stop using the products of the companies doing ruthless layoffs
The question is, is this insider trading?
No. Nobody who has gotten that high up would commit a crime so obvious that a random blinder could uncover it. Most likely a pre-scheduled sale.
I'm sure the layoff was pre-scheduled as well.
So the sale is pre-scheduled at a KNOWN DATE. And the latoffs scheduled before known date. Probably nothing
Smart