Okay, so I work for a contract manufacturing biotech. I think my company is terribly mismanaged. I also know that a publicly traded company is having their new drug, which we are making, has an FDA audit coming.
I think we will fail this audit, because I have no faith in the leadership group and I no longer have faith in the manufacturing groups that will be making this product (a group I recently transferred out of, because I think the fda audit will fail)
I don't work directly on the product. I don't work directly with the FDA. I have no actual evidence about the failure of the audit outside of the number of people that are quitting the company in droves and lack of faith in anyone in management to fix anything.
If I decided to short the company stock that has a contract with us, based on my feelings about our companies leadership and their lack of competence, would that be insider trading?
I don't know anything about the drug. How if effects people. What the drug treats. What else the company makes besides this candidate. How any trials for this drug went. Etc. I am a low level manufacturing grunt. I don't know things.
If I short the stock, because I hate my company and think we are terrible, will I be putting myself at risk for insider trading?