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Sen. Kelly Loeffler says she’ll sell off individual stocks

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Sen. Kelly Loeffler says she'll sell off individual stocks

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Amid scrutiny of her stock trades by federal regulators and a tightening Georgia primary race, Sen. Kelly Loeffler, R-Ga., announced Wednesday in an op-ed she and her husband would liquidate their holdings in individual stocks and would move into exchange-traded funds and mutual funds. 

” I will report these exiting transactions in the periodic transaction report I file later this month,” Loeffler wrote in a Wall Street Journal op-ed, calling her trades a “distraction” and saying she never traded on confidential information.

Loeffler and her husband Jeffrey Sprecher, who chairs the New York Stock Exchange, have faced criticism for their sales of millions of dollars worth of stocks before the coronavirus pandemic worsened and as senators were receiving closed-door briefings on the potential impact of the virus. 

On Feb. 14, for example, Loeffler, who has an estimated net worth of $500 million, sold between $250,001 and $500,000 worth of stock in Exxon Mobil from an account owned jointly with her husband. The value of Exxon stock has plummeted as the pandemic worsened, from a high of about $70.90 at the beginning of the year, to about $42 on Wednesday.



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