or anybody else who can clarify. I spent some time yesterday learning about insider trading. Yes, I am just learning about trading in general. Here is what I learned: No insider, defined as directors, officers, managers, employees, family of the above, arms length third parties associated of the above can buy, sell or even borrow and lend shares (sbl) if the are in possession of unpublished sensitive material information.
The definition for material information is long but it is generally defined as non-public information that would cause a reasonable person to trade differently.
Further, I learned that law firms have specialists who are always on the lookout for any signs of insider trading because they can make piles of cash in class action law suits.
So can I resonably assume that no insider is buying, selling, lending or borrowing shares at this time either directly or indirectly? And if yes, then whoever is buying and selling shares is acting in absence of insider information. And if that's true, then they are acting based solely on public information, their own estimates of the present and future value of oyl and their own trading strategies. And if that's true then someone's need for cash (sellers) and someone else's need for shares (buyers) have intersected at this share price range. How RBC is involved is beyond me other than someone is accumulating shares to put together an ETF or something because they believe that oyl has a good well there.