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by sandworm101 2708 days ago
Because they need time to correct errors and to prevent fraud. Say someone gets into the SEC and decides to release a fraudulent report. If that happens during off hours it can be rectified, but if it happens during the trading day the markets will react instantly and the damage is done.

Fixed release times also means that the companies submitting the filings cannot pick an advantageous time. Imagine if Musk was sitting atop a really horrible Tesla earnings report. If he could manipulate the exact time of its release he could leverage all sorts of things.
2 comments
vorticalbox 2707 days ago
>but if it happens during the trading day the markets will react instantly and the damage is done.

Sounds like a good hacker movie.

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crumpets 2707 days ago
>If he could manipulate the exact time of its release he could leverage all sorts of things.

There's already protection against him insider trading. Not sure what else "leverage all sorts of things" is.

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