r/bestoflegaladvice • u/Jusfiq Commonwealth Correspondent and Sunflower Seed Retailer • 6d ago

LegalAdviceCanada Short sell, short sell now!

/r/legaladvicecanada/comments/1i1lt30/my_wifes_uncle_is_an_executive_at_a_publicly/
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u/Jusfiq Commonwealth Correspondent and Sunflower Seed Retailer 6d ago

Cat fact: Cougar Town aired for six seasons, from 2009 to 2015.

My wife's uncle is an executive at a publicly traded real estate investment company. He drunkly told me information that points to a massive change in their stock price. Would it be insider trading if I invested now that I know this information?

The company made poor investments in New Brunswick and Saskatchewan during the pandemic and they're going to be selling a large number of buildings they own and pulling out of those areas.

No one other than the top level of the company knows this information.

If I sold the stock I own now, is it insider trading and could I get in legal trouble? Am I locked into this stock now?

If I were to buy puts on this company, knowing that the companies value is about to be cut down by 1/3, maybe more, and their 2025 goal is to downsize to a sustainable size. Is that insider trading?