Sen. David Perdue’s Stock Trading Continues to Have Remarkable Timing
Sen. David Perdue’s timing on stock deals continues to be immaculate. According to the Associated Press, the Georgia Republican sold off millions of stock in financial tech company Cardlytics, whose board of directors he once sat upon, in January—right as Congress received word on the potential economic devastation that the novel coronavirus outbreak could bring. In March, while the Dow Jones Industrial Average lurched toward a three-year low, Perdue bought his stock back. His shares have since quadrupled in value, according to the AP. Earlier this month, The Daily Beast reported that Perdue bought stock in a Navy contractor BWX Technologies right before being named chair of the Senate Armed Services Subcommittee on Seapower. He then worked on a defense bill that steered money to a submarine part only made by the company.
A spokesperson for Perdue—who is currently fighting for his seat in a Jan. 5 runoff election that will decide control of the Senate—told the AP the senator had been cleared of wrongdoing but didn’t elaborate.