Georgia Senator David Perdue boosts wealth with well-timed stock trades
Source: CBS News
As the ravages of the novel coronavirus forced millions of people out of work, shuttered businesses and shrank the value of retirement accounts, the Dow Jones Industrial Average plunged to a three-year low.
(snip)
And for the second time in less than two months, Perdue's timing was impeccable. He avoided a sharp loss and reaped a stunning gain by selling and then buying the same stock: Cardlytics, an Atlanta-based financial technology company on whose board of directors he once served.
On January 23, as word spread through Congress that the coronavirus posed a major economic and public health threat, Perdue sold off $1 million to $5 million in Cardlytics stock at $86 a share, according to congressional disclosures.
Weeks later, in March, after the company's stock plunged following an unexpected leadership shakeup and lower-than-forecast earnings, Perdue bought the stock back for $30 a share, investing between $200,000 and $500,000.
Read more: https://www.cbsnews.com/news/georgia-senator-david-perdue-boosts-wealth-with-well-timed-stock-trades/
= new reply since forum marked as read
