The CEO of the Intercontinental Exchange, which owns the New York Stock Exchange, sold millions of dollars worth of the parent company’s shares in late February just days before the first reported death from the novel coronavirus in the U.S.
The transaction also came as financial markets were starting to tumble as the devastating economic impact of the outbreak was becoming clear.
Jeffrey Sprecher, who is the husband of unelected — appointed — Republican U.S. Senator Kelly Loeffler of Georgia, on February 26 sold $3.5 million in shares of ICE, as the exchange is called, at an average price of $93.42 each, according to a filing with the Securities and Exchange Commission. Since then, ICE shares have plunged nearly 25% amid a broader downdraft in stocks.
His wife sold over $1.2 million in stocks from her own personal portfolio.
Loeffler and her husband made the transactions immediately after the January 24th meeting warning of the dangers from the virus to the stocks. Some of the stocks they sold were stocks that were doing well and really got hammered. She had to have known by February 16th that a lot of her equities were sold when she received her statement. The husband and wife even sold retail.
She released a video after that saying the economy and stock market were strong.
Loeffler suggested she has a blind trust and she does not. That is dishonest. There are three other potential swamp critters, but she’s first on our list.
Watch Tucker grill her:
Loeffler invested in teleconferencing stock and sold retail. She sure is lucky. Judge Jeanine discussed it with her Republican primary opponent Doug Collins. Loeffler was appointed by Governor Kemp and is favored by Senator McConnell.