We all like having inside information. But much of the time, what’s passed off as inside information, is just idle gossip. In other cases, we know that having inside information is really a way for an organization to profit from delivering what is viewed as premium content. Still, the basic idea behind inside information is that you are getting information that the general public does not have. Insider trading is the action of buying or selling (“trading”) a security based on material information that is not available to the public. Although generally assumed to be illegal, there are times when insider trading can be legal.
