Georgia Senator David Perdue boosts wealth with well-timed stock trades – By AP News (CBS News) / Nov 26 2020
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.
But for Senator David Perdue, a Georgia Republican, the crisis last March signaled something else: a stock buying opportunity.
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.
