Tags: Coronavirus | loeffler | stocks market | virus | covid-19 | fauci

Sen. Loeffler Cashed in on Stocks After Secret Virus Hearing

senator kelly loeffler
Sen. Kelly Loeffler, R-Ga. (Bill Clark/CQ Roll Call via AP Images)

By    |   Friday, 20 March 2020 07:16 AM

Sen. Kelly Loeffler, R-Ga., sold off at least $1.2 million in stocks in the weeks after a private, all-senators meeting on the coronavirus, The Daily Beast is reporting.

Loeffler, who took office on Jan. 6 after having been appointed to fill the retiring Sen. Johnny Isakson's seat, reported the first sale of stock owned by her and her husband on Jan. 24 — the same day that her committee, the Senate Health panel, hosted the private briefing for all senators, according to The Daily Beast.

The coronavirus briefing came from Trump administration officials, including Dr. Anthony Fauci, chief of the National Institute of Allergy and Infectious Diseases.

Her first transaction after the meeting was a sale of stock in Resideo Technologies valued at between $50,001 and $100,000, The Daily Beast said. The news outlet noted the stock price for the company has dropped by more than half since then.

According to the report, the transaction was the first of 29 made by Loeffler and her husband through mid-February. Just two of the transactions were purchases, including one worth between $100,000 and $250,000 in Citrix, a company that offers teleworking software.

The company has seen a small increase in its stock price since she purchased stock in it, The Daily Beast said.

Between Jan. 24 and Feb. 14, she reported selling stock worth between $1.275 million and $3.1 million, The Daily Beast noted.

Loeffler tweeted early Friday: "This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband's knowledge or involvement."

Meanwhile, ProPublica reported Sen. Richard Burr, R-N.C., dumped up to $1.7 million in stock as he was receiving intelligence briefings on the oncoming onslaught of the virus.

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Sen. Kelly Loeffler, R-Ga., sold off at least $1.2 million in stocks in the weeks after a private, all-senators meeting on the coronavirus, The Daily Beast is reporting.
loeffler, stocks market, virus, covid-19, fauci
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2020-16-20
Friday, 20 March 2020 07:16 AM
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