Georgia Senator David Perdue’s stock trading continues to have a remarkable timing

The timing of Senator David Perdue’s stock market transactions remains immaculate. According to the Associated Press, the Georgian Republican sold millions of shares in the financial technology company Cardlytics, which once served on its board of directors, in January – just as Congress was aware of the potential economic devastation caused by the new coronavirus epidemic. In March, as the Dow Jones Industrial Average turned to a three-year low, Perdue repurchased its shares. Its shares have since quadrupled, according to the AP. Earlier this month, The Daily Beast reported that Perdue had taken a stake directly in the Navy entrepreneur, BWX Technologies, before being appointed chairman of the Seapower subcommittee of the Senate Armed Service. He then worked on a defense account that diverted money only to the submarine section made by the company.

A spokesman for Perdue – who is currently battling for the Jan. 5 election to decide on Senate control – told the AP that the senator had been cleared of the violation, but did not elaborate.

Read here: Associated Press