Investigative Journalism? Stock Manipulation? Same Difference
from the the-new,-new-business-models dept
Mark Cuban has no problem going against traditional ways of doing things (which is often a good thing), though he’s likely going to raise a few eyebrows with his new plan to fund an investigative journalist. That, alone, isn’t anything to be that interested in, but this investigative journalist is going to investigate corporate malfeasance — and then provide that info to Cuban before it’s published, so that Cuban can short stocks based on the info that’s about to come out. It’s not insider trading, of course, because he’s no insider, but where it could raise questions is if the reports turn out to be incorrect, but it makes the stock tank anyway. When the motive of the “publisher” is to profit from having the news early, there are always going to be questions about how much digging is done to back up a story that will clearly move stocks one way or another. Perhaps it’s the equivalent of a journalistic troll. But, instead of trolling for page views, some may find that this effort is trolling for the ability to move stocks.