Georgia Senator Reveals Stunning Profit Taking During Pandemic

Via The Washington Examiner:

Sen. Kelly Loeffler reported millions of dollars in stock sales this year as the coronavirus swept through the United States. 

Financial disclosures show the Georgia Republican, one of several senators accused of insider trading after reports showed they dumped stocks prior to the market plunge earlier this year, had even more stocks bought and sold on her behalf.

Loeffler’s office have dismissed allegations of wrongdoing and stressed that all daily trades are conducted by investment advisers without the senator’s prior knowledge.

In one series of transactions reported by the Atlanta Journal-Constitution, Loeffler and husband Jeffrey Sprecher, the founder, CEO, and chairman of the Intercontinental Exchange and chairman of the New York Stock Exchange, sold shares of retailers such as T.J. Maxx and Lululemon and bought shares in a company that produces protective garments needed in the battle against the coronavirus. Many retailers have been forced to furlough workers after closing brick-and-mortar stores that were deemed nonessential in many states.