Investors usually determine when to buy or sell stocks based on the conditions of equity markets, but a man in Florida had another idea around how he might be able to make money.
Mark Charles Barnett, 48, allegedly tried to send retailer Target's shares into free fall by setting off homemade explosives in several of the company’s outlets on the East Coast, according to a criminal complaint filed by Department of Justice prosecutors in a federal court, cited by NBC news.
The DoJ reportedly filed a complaint alleging Mr Barnett, a registered sex offender in Florida, built at least 10 explosive devices and paid another man $10,000 to place the bombs on store shelves in New York, Florida and Virginia.
"Barnett theorized that the company's stock value would plunge after the explosions, allowing him to cheaply acquire shares of Target stock before an eventual rebound in prices," according to the complaint.
The explosives, which were capable of causing "serious injury and death to nearby persons," were expected to be disguised as food products.
Officials said bomb-making materials were found in Mr Barnett’s home as well.
According to the complaint, Mr Barnett’s affiliate went to authorities instead of doing as instructed – thereby obstructing his plan.
If convicted, Mr Barnett reportedly faces up to 10 years in federal prison.
