To go even further, for those who don't know: it's 100% legal to act on information that is TECHNICALLY public.
Even if that information was released immediately before you bought / sold.
How this works for the in-group:
Do insider trading
Know that an earnings report goes live at noon or whatever
Wait for one femtosecond after noon
Do the trading you already decided on days / weeks ago
A scanning bot could totally work for some things, but you're still way behind the curve, because they made fraud legal.
The real trades are already made while your bot is downloading the PDF.
To go even further, for those who don't know: it's 100% legal to act on information that is TECHNICALLY public. Even if that information was released immediately before you bought / sold.
How this works for the in-group:
A scanning bot could totally work for some things, but you're still way behind the curve, because they made fraud legal.
The real trades are already made while your bot is downloading the PDF.
Having a functioning bot to let you know when to legally commit insider trading is like parallel construction for fintechbros :big-cool: