After countless FBI investigations, certain people around the world currently believe that specific insider traders were aware of the 9/11 attacks prior to the first hit, and made certain sales and adjustments to their stock because of this knowledge.
The Main Stocks to look at!
"United Airlines Boeing 767-300; N643UA@ZRH;19.01.2008/493cz" By Aero Icarus Licensed under CC BY-S.A.2.0
United Airlines (UAL)After the attacks a lot of trading occurred, UAL received a 42% decline with stocks the following week from $30.82 to $17.50.
However, some UAL stock prior to the attacks was traded by Deutsche Bank Alex Brown of a 2500 contract order. |
American Airlines (AMR) As of 9/11 and after the SEC's research, the American Airlines trade volume was 60 times over average. Their stock dropped from $29.70 to $18.00.
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Logo of MMC By Unknown Author, 2 May 2016. Public Domain.
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The New York Stock Exchange was closed 9/11 to 9/17...here's why
Conspiracy theorists looked at specific people who sold a lot of stock prior to these events, especially since the NYSE was closed from 9/11 to 9/17. Among these people, and the FBI's declassified investigation of potential insider trading, suspects included husband and wife, Wirt. D. Walker III & Sally Walker, and Amir Ibrahim Elgindy.
THE WALKERS
The Walkers were found to have purchased 56,000 shares of Stratesec stock on 9/6/2001. This is a security contractor company for multiple of the facilities involved in 9/11. This stock doubled in value immediately on 9/17. The FBI did not interview them due to believing they did not have any ties with terrorism. |
AMIR IBRAHIM ELGINDY
On 9/10/2001, Elgindy was a suspect of liquidating $300,000 in assets through his broker. When asked about his reasoning of his liquidation he said he was predicting the Dow Jones industrial average would crash from 9600 to below 3000. FBI did not interview because they did not have evidence where he would have profited specifically from the attacks. |
THE PSYCHOLOGY
What is the psychology behind the following of this conspiracy theory?
- Main followers of this conspiracy theorists tend to be educated and are personally heavily involved in the stock market, trading, watching the market, etc
- Over time, especially due to the initial collapse of the market many people were looking to finding inside sources.
- In 2008 when the FBI released their investigation reports there was a split in the following--
- Some were driven by emotion of the frustration of lack of results given by the FBI causing them to become more invested into this theory themselves
- Others were more reliant and trusting of the FBI, and since they were unable to conclude clear insider trading, a significant number of people lost their following as well.
References
Beaver, D. (2018, March 7). 9/11 was an Inside Job. Retrieved from The Psychology of Extraordinary Beliefs:
https://u.osu.edu/vanzandt/2018/03/07/911-was-an-inside-job/comment-page-1/
Davis, M. (2020, March 18). How September 11 Affected The U.S. Stock Market. Retrieved from Investopedia:
https://www.investopedia.com/financial-edge/0911/how-september-11-affected-the-u.s.-stock-market.aspx
n.a. (2007, August 21). Insider Trading Pre-9/11 Put Options on Companies Hurt by Attack Indicates Foreknowledge. Retrieved from 9-11
Research: https://911research.wtc7.net/sept11/stockputs.html
Pastina, L. (2011, September 9). 9-11 From Inside the New York Stock Exchange. (T. I. Strategies, Interviewer)
Ryan, K. (2018, September 4). 9/11 Put Options and "Insider Trade": Evidence for "Informed Trading" on the Attacks on September 11, 2001.
Retrieved from Global Research Centre for Research on Globalization:
https://www.globalresearch.ca/evidence-for-informed-trading-on-the-attacks-of-september-11-2001/5652934
https://u.osu.edu/vanzandt/2018/03/07/911-was-an-inside-job/comment-page-1/
Davis, M. (2020, March 18). How September 11 Affected The U.S. Stock Market. Retrieved from Investopedia:
https://www.investopedia.com/financial-edge/0911/how-september-11-affected-the-u.s.-stock-market.aspx
n.a. (2007, August 21). Insider Trading Pre-9/11 Put Options on Companies Hurt by Attack Indicates Foreknowledge. Retrieved from 9-11
Research: https://911research.wtc7.net/sept11/stockputs.html
Pastina, L. (2011, September 9). 9-11 From Inside the New York Stock Exchange. (T. I. Strategies, Interviewer)
Ryan, K. (2018, September 4). 9/11 Put Options and "Insider Trade": Evidence for "Informed Trading" on the Attacks on September 11, 2001.
Retrieved from Global Research Centre for Research on Globalization:
https://www.globalresearch.ca/evidence-for-informed-trading-on-the-attacks-of-september-11-2001/5652934