“…In the first quarter of 2018 alone, with the new tax law fully in force, American corporations bought
back a record $178 billion in stock.21 During this period, the market hit record highs. When a corporation buys stock, it should be governed by the maxim that applies to any investor: buy low,
sell high. Yet because this frenzy of corporate stock buybacks happened when the market was at a
record high level, it contradicts any claim that they were sound business decisions…”
Insider Trading and Stock Option Grants: An Examination of Corporate Integrity in the Covid-19 Pandemic
