Insider Sale: President-RV Jeff Rodino Sells 20,000 Shares of Patrick Industries Inc (PATK)
Patrick Industries Inc (NASDAQ: PATK)
President-RV Jeff Rodino sold 20,000 shares of Patrick Industries Inc (NASDAQ: PATK) on 12/12/2022. After the sale, Rodino still owns 42,123 shares of the company, valued at $2,998,918. The insider sale was disclosed in a document filed with the SEC.
What is Insider Trading?
Insider trading is a practice in which individuals with access to nonpublic information about a company use that information to trade in the company's stock. Insider trading is illegal and can result in penalties, including fines and imprisonment.
Is Insider Trading Unethical?
Insider trading is considered unethical because it gives traders an unfair advantage over other investors. Traders who have access to nonpublic information can make trades based on that information, which gives them a better chance of making a profit.
Why is Insider Trading Illegal?
Insider trading is illegal because it undermines the integrity of the stock market. It creates an uneven playing field for investors and can lead to a loss of trust in the market.
What are the Consequences of Insider Trading?
The consequences of insider trading can be severe. Individuals who are convicted of insider trading can face fines and imprisonment. They may also be barred from serving as officers or directors of public companies.
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