Following private coronavirus briefing, GOP Sen. Kelly Loeffler dumped millions in stock


On Jan. 24, the same day she attended a private briefing hosted by the Senate Health Committee on the coronavirus outbreak, Sen. Kelly Loeffler (R-Ga.) sold between $50,001 and $100,000 worth of stock from Resideo Technologies, The Daily Beast reports. Since then, Resideo's stock price has fallen by more than half.
Records show that between Jan. 24 and Feb. 14, Loeffler and her husband, New York Stock Exchange Chairman Jeff Sprecher, sold stock worth between $1.3 million and $3.1 million. Loeffler, who is worth an estimated $500 million, also made two purchases of stock in technology companies. One of those companies, Citrix, offers teleworking software, and she bought stock worth between $100,000 and $250,000.
The 15 stocks Loeffler reported selling during that time period have since lost, on average, more than a third of their value, The Daily Beast reports. As late as March 10, Loeffler was tweeting that "the consumer is strong, the economy is strong, & jobs are growing, which puts us in the best economic position to tackle #COVID19 & keep Americans safe."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Loeffler wasn't the only senator to sell off large stock holdings while learning about the magnitude of the global coronavirus pandemic. Sen. Richard Burr (R-N.C.), chairman of the Senate Intelligence Committee, unloaded between $628,000 and $1.7 million of his stocks on Feb. 13, during a time when he received daily classified briefings on the coronavirus. Catherine Garcia
Update 12:50 a.m.: Loeffler claimed in response to the Daily Beast article that she doesn't trade her own stocks and was unaware of what her investment advisers had done until Feb. 16.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
'From his election as pope in 2013, Francis sought to reform'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US
-
Israel blames 'failures' for killing of medics
speed read 14 Gaza medics and 1 U.N. employee were killed by IDF special forces
By Peter Weber, The Week US
-
Hegseth reportedly shared war plans in 2nd group text
Speed Read The defense secretary sent information about an attack in Yemen to a Signal group chat that included his wife and brother
By Peter Weber, The Week US
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
By Peter Weber, The Week US
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
By Justin Klawans, The Week US
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
By Peter Weber, The Week US
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US