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Theory of insider trading

Theory of insider trading

In 6 to 8 sentences, no resources required.  
Insider trading is explained as buying or selling stocks of businesses with having information from an inside person that is not known to the public.
The buyer or seller may have information that would dramatically impact the price of stocks.
Using the idea/theory of insider trading, what other benefits can be gained from using private information before others have access to that same information?

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