Congressman Sold Over 100 Stocks as Coronavirus Worsened

Rep. Phil Roe (R-Tenn.) is the latest elected official to raise eyebrows over their stock transactions after his financial records showed that he made a flurry of stock sales as the coronavirus pandemic worsened.

In January, Roe bought up stocks in companies that would later become valuable during the pandemic, those included the video-conferencing app Zoom, Amazon, the workplace app Slack and streaming service Roku.

Joe Ebert, the reporter for The Tennessean who authored the story on Roe’s stock moves outlined some of the more noteworthy transactions on Twitter.

Ebert also noted that Roe also bought stock in medical companies that have since joined the rush for a coronavirus vaccine.

On March 12, Roe appeared on Fox Business and mentioned Gilead Sciences — which is now working on a coronavirus vaccine. But Ebert notes that Roe never mentioned that he owned stock in the company.

Members of Congress’ stock trades first came under public scrutiny with Sens.Richard Burr (R- N.C.), Kelly Loeffler (R-Ga.) and Democrat Sen. Dianne Feinstein (D-Calif.)

Burr has since found himself at the center of an FBI investigation and has stepped down from his post as Chairman of the powerful Senate Intelligence Committee. He had previously announced that he would not run for re-election in 2022 when his term is up.

Loeffler has liquidated her stocks and the Wall Street Journal reported on Tuesday that the Department of Justice is closing their investigation into the Georgia senator.

Roe announced in January that he would not run for re-election in November, opening up a seat in deep red Trump country. At the time, the Tennessee senator said “As someone who practiced medicine for over 30 years, I said I would serve five or six terms because I never intended this job to be a second career,” 

Responses

  1. There is a big difference between a $16,001 and a $650,000 investment in a stock. Who wrote those reporting categories?

    1. “In all 2019, @drphilroe had 846 transactions with 277 assets, valued between $4.6 million and $21.8 million.” Tweet

      Must be nice to have play money just laying around.

  2. So, instead of warning his constituents about the possible dangers of the Trump Virus and suggesting that they prepare, he decides to privately line his deep pockets.

    There should be a law against that kind of thing. (There is, but who in his party is left to enforce it?)

    1. Hey Scott, There is a law about insider trading but it only applies to us not them. If you will do some research you’ll find that my statement is fact not fiction.

      This happens on both sides of the isle!! The Democrats are just better at not getting caught and the fake news doesn’t do the research on their own …

      1. Uh, you had better speak with Rep. Chris Collins’ lawyers quickly, then. He was charged and convicted of insider trading and he got 26 months for that crime.

        Hurry!

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