Overwhelming proof of Insider trading in anticipation of October 7
Some investors active on the New York and Tel Aviv Stock Exchanges (NYSE and TASE) apparently knew in advance that Hamas militants were about to launch their attack on Israel before Oct. 7th and that a war would follow. They used that knowledge to cash in by short-selling Israel-linked shares, generating a profit windfall worth millions of dollars.
That’s the claim being made by researchers at New York University and Columbia University. “Our evidence is consistent with informed traders anticipating and profiting from the Hamas attack” and the war that erupted in its wake, financial market experts Robert J. Jackson, Jr., of NYU and Joshua Mitts of Columbia concluded in an explosive paper published Dec. 4.
The two professors’ meticulously-documented report, titled “Trading on Terror?”, details what they call a “significant spike in short-selling in the principal Israeli-company ETF [Exchange-Traded Fund]” on the NYSE in the weeks before Oct. 7th and similar short-selling moves against dozens of Israeli companies listed on the TASE. They rely on data from the Financial Industry Regulatory Authority (FINRA), which they say is still incomplete.
See the entire Washington Post story here
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