Bakkt CEO, Kelly Loeffler, Dumped Stocks Following COVID-19 Briefing

 

  • A Republican from Georgia Sen. Kelly Loeffler dumped stock worth a million dollars ahead of stock market drop following a private, chamber-wide meeting on the threat of coronavirus pandemic.
  • On February 14, she had acquired stocks of two work-from-home related companies, namely; Citrix specialized in teleworking software and Oracle.
  • Before public appearance, Loeffler was a chief executive of a cryptocurrency service firm Bakkt which was owned by InterContinental Exchange (ICE).

A Republican from Georgia Sen. Kelly Loeffler dumped stock worth a million dollars ahead of stock market drop following a private, chamber-wide meeting on the threat of coronavirus pandemic.

This Georgia senator began selling off more than a million dollars in the stocks on the same day, revealed by The Daily Beast on Thursday.

The second member of the US Senate to dump massive share of stocks

The state’s government appointed the wealthiest member of the US, Senate Loeffler.  Later, she invested in a well-established company to capitalize on the forthcoming crisis. It was a technology firm that deals with telecommuting software.

In the last three weeks, Loeffler made 27 sales between $1,275,000 and $ 3, 100,000 before the market sink and her holdings’ value tumbled.

On February 14, she had acquired stocks of two work-from-home related companies, namely; Citrix specialized in teleworking software and Oracle.

Kelly Loeffler’s response on Twitter

After the conference she twitted, it was an acknowledgeable conference on the novel coronavirus outburst from the President’s top health officials. These people are working 24X7 to keep the country safe and healthy.

According to the Daily Beast report, Loeffler sold between $50,001 and $100,000  worth of stock in Resideo Technologies. On that day, the shares were locked at $11.38, and as of March 19, those shares are now worth $5.11.

Between then and mid-February, Loeffler, along with her husband, made 29 transactions, including purchases in Citrix. The allegations started flying around Loeffler with this sharp decision.

Loeffler defended this scenario by twitting it as a ridiculous and baseless attack. She strikes the rumors of investment decisions for her portfolio. She clarified that multiple third-party advisors made the investment decision without the involvement of Loeffler and her husband.

A representative for Loeffler notified that Loeffler didn’t handle her stock portfolio straightway and wasn’t aware of the transactions till weeks after the meeting on February 16. However, she was the second member of the US Senate to dump massive stocks following the briefing allegedly.

Before public appearance, Loeffler was a chief executive of a cryptocurrency service firm Bakkt which was owned by InterContinental Exchange (ICE), the operator of The New York Stock Exchange.

Her spouse, Jeffrey Sprecher, is the founder and chairman of the ICE stock exchange.  According to a report, both Loeffler and Sprecher possess more than $500 million in ICE stock alone

The post Bakkt CEO, Kelly Loeffler, Dumped Stocks Following COVID-19 Briefing appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.

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