DEFINITION of 'ImClone - IMCL'

A publicly-traded biotechnology company marketing products in the field of oncology. The company made international headlines in 2002 after ImClone's founder and CEO Sam Waksal was indicted for attempting an insider trade of the company's stock. Shortly after Waksal's indictment, "domestic diva" Martha Stewart was also indicted for insider trading of the same stock. Stewart received information from Waksal and her own broker that Waksal had been trying to dump $5 million worth of his shares in the company on insider information, and she sold her shares on the knowledge that Waksal had tried to sell his.

BREAKING DOWN 'ImClone - IMCL'

Both Sam Waksal and Martha Stewart were convicted of insider trading and other crimes and were sentenced to spend time in federal prisons.

RELATED TERMS
  1. Insider Trading

    The buying or selling of a security by someone who has access ...
  2. Insider

    An insider is a director or senior officer of a company, as well ...
  3. Material Insider Information

    Material insider information is material information about aspects ...
  4. Inside Market

    The inside market is the spread between the highest bid price ...
  5. Inside Days

    A charting term used by technical analysts and day traders. Inside ...
  6. Signaling Approach

    A signaling approach refers to the act of following various market ...
Related Articles
  1. Managing Wealth

    Dan Loeb Owns 17% of Firm Founded by Sam Waksal (KDMN)

    What does Loeb see in Kadmon that the market doesn't? Just as important, why does Loeb overlook what the market is focusing on?
  2. Insights

    Why Insider Trading Is Bad for Financial Markets

    Insider trading can come in many forms, some of them even legal, with the benefits and costs often debated by practitioners and academics alike.
  3. Personal Finance

    5 People Who Turned Career Disaster Into Success

    These successful individuals weren't handed anything. They worked hard for it!
  4. Trading

    What Investors Can Learn From Insider Trading

    Some insider trading is actually legal - and can be extremely telling for investors.
  5. Investing

    Macy's and J.C. Penney Settle Martha Stewart Suit

    In what may be the final chapter of the saga that was Ron Johnson's tenure as CEO of J.C. Penney (NYSE: JCP), the retailer and rival Macy's (NYSE: M) have reportedly settled a lawsuit over the ...
  6. Insights

    Should Insider Trading Be Legal?

    Insider trading has become a hot-button issue. Here are some of the pros and cons to making it legal.
  7. Insights

    How The SEC Tracks Insider Trading

    We look at how the SEC tracks and tries to stop insider trading - a seemingly impossible task.
  8. Personal Finance

    Buy Stock With Insiders: How To Track Insider Buying

    Insider buying can be a sign that a company's stock prices will soon rise. Here's how to keep track of insider buying on public databases and websites.
  9. Investing

    The Viability Of Tracking Insiders

    Insider trading use to be profitable, but can it be today? Learn if investors should be paying attention to insiders.
  10. Trading

    Defining Illegal Insider Trading

    The better you understand why insider trading can be criminal, the better you'll understand how the market works.
RELATED FAQS
  1. Can you use your Walmart credit card at Sam's Club?

    If you have a Walmart credit card, you can use it at Sam's Club. There are also many other forms of payment that Sam's Club ... Read Answer >>
Hot Definitions
  1. Capital Asset Pricing Model - CAPM

    Capital Asset Pricing Model (CAPM) is a model that describes the relationship between risk and expected return and that is ...
  2. Return On Equity - ROE

    The profitability returned in direct relation to shareholders' investments is called the return on equity.
  3. Working Capital

    Working capital, also known as net working capital is a measure of a company's liquidity and operational efficiency.
  4. Bond

    A bond is a fixed income investment in which an investor loans money to an entity (corporate or governmental) that borrows ...
  5. Compound Annual Growth Rate - CAGR

    The Compound Annual Growth Rate (CAGR) is the mean annual growth rate of an investment over a specified period of time longer ...
  6. Net Present Value - NPV

    Net Present Value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows ...
Trading Center