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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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