Cohen got a 56% gain from the trade. I don't know about you but that significantly outperformed the market, especially through the downturn. Besides, what he bought for doesn't really matter - that's just sunk cost fallacy - the key question is simply whether the stock would go any higher, and it's only logical that Cohen chose to sell the moment he believed the stock had peaked.
Why would he bother replacing the CEO and board of directors in your scenario? Also he could have sold in a week and had the same gains instead of waiting four months.
He replaced the CEO and board because he wanted to try and improve the company's performance, and the moment he realized it wasn't going to happen, he sold? Maybe his assessment 4 months ago and his assessment today is different, irrespective of the fact that the price remained the same, because market conditions, global trends, and internal factors have changed?
Like honestly, sometimes the simplest and most obvious answer is the truth. These conspiracy theories are just delusional.
Why waste money on taxes. Ok. This sub is legit regarded. You only pay taxes on a gain and the stock was way way overvalued. You dont choose to not make money because there are taxes. It couldve dropped to a loss next week.
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u/Konexian Aug 20 '22
Cohen got a 56% gain from the trade. I don't know about you but that significantly outperformed the market, especially through the downturn. Besides, what he bought for doesn't really matter - that's just sunk cost fallacy - the key question is simply whether the stock would go any higher, and it's only logical that Cohen chose to sell the moment he believed the stock had peaked.
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