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Perdue sold up to $5 million in Cardlytics stock before it plunged, avoiding a sharp loss and reaping a stunning gain by selling and then buying the same stock
Over the past decade, nearly 80% of all donations given to federal candidates by Cardlytics employees have gone to Perdue
ATLANTA — A bombshell new report by the Associated Press revealed that as concern over the coronavirus was beginning to spread through Congress, Senator David Perdue sold up to $5 million dollars of stock in an Atlanta-based tech company right before it plunged. Weeks later, Perdue quickly bought back the stock after it lost two-thirds of its market value, avoiding a “sharp loss” and “reap[ing] a stunning gain by selling and then buying the same stock” of a company on whose board of directors he once served. The company’s shares have now quadrupled in value.
Legal experts questioned Perdue’s “impeccable” timing, saying the trades and his close ties to the company “seem suspicious” and “warrant scrutiny.” This latest shady stock deal is part of a broader pattern of strategic trading Perdue made when the coronavirus first struck the U.S. Perdue has consistently come under fire for trading stocks early on in the pandemic and investing in “a chemical company that supplies personal protective equipment” after the Senate received a private briefing on the deadly effects of the coronavirus.
“While Georgia families were losing their jobs and health care, Senator Perdue was looking out for himself and downplaying to his constituents the risk the virus posed to our health and economy,” said Braxton Brewington, spokesman for the Democratic Party of Georgia. “Perdue’s corrupt record of looking out for his stock portfolio while Georgians suffer is disgraceful and won’t get him reelected.”
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