If you watched last night's episode of 'Billions' on Showtime, you would have seen the Axe Capital trader Donnie Caan wearing a concealed microphone and recording device into work. The U.S. Attorney's Office suspected Donnie of insider trading and the only way he could keep himself out of jail was to capture evidence of his boss Bobby Axelrod committing a similar act.
What did they have on Donnie? The U.S. Attorney's Office had seen Donnie buying up stock in a drug company well in advance of the FDA's decision to approve for sale one of the company's newest drugs. Of course the drug gets approved, Donny nets a huge profit and then can't defend himself from the U.S. Attorney's Office accusations that his trades were based on insider information.
As the story was unfolding I got a little excited because the valuable 'insider' information that Donny was getting is much like the information you can get legally from Wall Street Horizon. Dates for when companies submit new drug applications to the FDA, dates for when the FDA decisions are expected and the likelihood that drugs will get approved . . . all available through our online application Enchilada and our partner BioMedTracker.
So my advice to Bobby Axelrod and traders like Donnie . . . work with Wall Street Horizon, get all the important drug approval dates and information you need, and avoid having to wear a concealed microphone to work or worry about going to jail.