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2018-01-03 10:50 by Karl Denninger
in Corruption , 205 references Ignore this thread
Cops? Where Are Those?
[Comments enabled]

Once again, this is infuriating...

WATERLOO, ONTARIO and BEIJING, CHINA--(Marketwired - Jan 3, 2018) - BlackBerry Limited (BB)(BB) and Baidu, Inc. (BIDU) announced today that the two companies will collaborate to accelerate the deployment of connected and autonomous vehicle technology for automotive OEMs and suppliers worldwide.

The companies have signed a statement of intent to make BlackBerry QNX's industry-leading ISO26262 ASIL-D certified safety operating system (OS) the foundation for Baidu's Apollo autonomous driving open platform. Also, BlackBerry and Baidu will work together to integrate Baidu's CarLife, the leading smartphone integration software for connected cars in China, as well as its conversational AI system DuerOS, and high definition maps to run on the BlackBerry QNX Car (Infotainment) Platform.

This is very material information and could easily double BlackBerry's market cap -- which is a tiny $7 billion these days.  Remember, Baidu is not only in China it's very large in that regard.

The stock is up 8% this morning, but that's not the news.

No, the news is that yesterday, prior to the announcement, not only was the stock up big there were a hell of a lot of $13 March Calls traded too.

In other words someone not only knew about this announcement they traded on it as well, and that's illegal.

There were plenty of followers-on I'm sure, and that's not against the law (observing the market action and buying or selling something doesn't use non-public information.)  But the person(s) who originally created the dislocation in the option trade and underlying are another matter entirely; that's a crime.

To Jeff Sessions and Putrid Orifice Threatening Uranus Suckface: Where are you and where is your so-called "Rule of Law"?  Too busy busting people for smoking weed and ignoring Hillary's crimes?  Or is it all the porn you're watching in the Oval Orifice and DOJ buildings, never mind the SEC, that has you addled this time around?

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User Info Cops? Where Are Those? in forum [Market-Ticker]
Comrader
Posts: 266
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pa
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dont worry karl, it was just some congress critters trading on inside info!
Radcondive
Posts: 463
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Charleston, SC
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What Comrader said.....
Alosix
Posts: 1007
Incept: 2009-03-31

Behind enemy lines..
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Cops aside, I do like this move. My last time working on code/QNX was automated warehouse mgt software. The place could just about pull in clothes from trucks, store them, and then sort them out to the stores without human intervention. I think that warehouse ran on 1/10 of the people that the companies other ones did for the same throughput.

QNX is quite well suited to this sort of application.

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"Software Development is one of those jobs, like picking lettuce, or cleaning toilets, that Americans just refuse to do." : STCM
Tickerguy
Posts: 151194
Incept: 2007-06-26
A True American Patriot!
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Oh I like the move and think it could easily double the company's market cap.

But the criminality is another matter.....

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Winding it down.
Aztrader
Posts: 7913
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Scottsdale, AZ
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No rule of law for the past 15 years. Why start now?
Tickerguy
Posts: 151194
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A True American Patriot!
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The CNBS line was amusing from the Najarans: "Well, you know, the insider trading might have come from other countries that don't think it's as big a deal as we do."

Uh huh...... so the law for those trading on US exchanges doesn't apply if I step over a border eh?

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Winding it down.
Alosix
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Behind enemy lines..
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Quote:
Uh huh...... so the law for those trading on US exchanges doesn't apply if I step over a border eh?


Must be in a sanctuary city somewhere :)

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"Software Development is one of those jobs, like picking lettuce, or cleaning toilets, that Americans just refuse to do." : STCM
Mannfm11
Posts: 5418
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DFW, Tx
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Probably Nancy Pelosi and Schumer on the trade, Karl. Don't forget they have titles of nobility.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Idiom
Posts: 121
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New Zealand
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Speaking of Blackberry, are micro-kernels immune to Meltdown?
Tickerguy
Posts: 151194
Incept: 2007-06-26
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Uh, no.

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Winding it down.
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