Congressman Buys, Sells Penny Stock For Profit: Here's The Trade And For How Much
Portfolio Pulse from Chris Katje
Rep. Kevin Hern (R-OK) sold shares of Freddie Mac (OTC:FMCC) for a profit of 42.2% to 48.9%, having bought them earlier in the year. This transaction could intensify discussions about banning stock trades by Congress members, especially as Hern previously violated the STOCK Act by not disclosing 2021 transactions. Freddie Mac is under conservatorship since the 2008 financial crisis.
December 08, 2023 | 9:32 pm
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NEGATIVE IMPACT
Rep. Kevin Hern sold shares of Freddie Mac for a significant profit. This news could bring negative attention to Freddie Mac, potentially affecting its stock price.
The news of a congressman profiting from trading Freddie Mac shares could lead to negative sentiment among investors, as it raises ethical concerns and could fuel discussions on trading restrictions for Congress members. This might result in a short-term negative impact on Freddie Mac's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100