[cedws]

>He sold the stock after the material became public knowledge.

Are there rules about how long you need to wait after the news goes public to sell? Otherwise, it still seems kind of unfair because you could sell 100 milliseconds later before the market can react.

[webkike]

You put up your sell order in 100 milliseconds. The market then reacts as long as it takes to react. Stocks don't instantly settle

[cedws]

If you sell for below market price then the order will be filled quickly and you'll be ahead of the pack.