RE: RE: last day of tax lossOne does not have to buy/sell shares on the open market. One can make a private deal with someone else and arrange it through a broker or privately. An insider such as JP, of course, has to declare such a trade. Such trades are known as a cross if they are done by the same broker. They are not unethical and are a regular form of business of the day. Most of the time it is too difficult to find someone willing to buy a huge block of shares of that size and therefore one sells them on the open market in the dribs and drabs as various traders/investors pick them up.
One strategy to reduce tax is to sell one's shares "privately" at a loss to, say, one's wife, such as this morning. This way the shares stay in the family and yet does not violate the 30-day rule To increase the "tax loss" one sells them as cheap as possible even though it looks "bad" to other investors who do not know the true game behind what is observed. Thus, in today's trade, JP picked himself up a $208,000 "tax loss" to be used against future capital gains and his 4.2 million shares still stay in the family for when they will go up. I bet once the 30 days are up she will "sell" them back to him for about the same price and he gets his "tax loss" at no real cost. Wait for another similarly-sized cross around January 21. In the meantime, pick up shares while you can because after that the share price will be "allowed" to float back up.
If in the next few days we see other insiders buying, even if it is a paltry amount, then this is in fact what happened or is happening.
So, Torochubby, does this concept now make sense? Hope it does. If not, please ask again.