Tennessean: Congressman Phil Roe sold hundreds of stocks just ahead of the market downturn
NASHVILLE, Tenn. (Mike Osborne) -- Another Congressman’s stock trades are under scrutiny, and this time it's a member of the Tennessee delegation.
The Tennessean reports that Republican Rep. Dr. Phil Roe made hundreds of stock trades ahead of the pandemic-driven market selloff earlier this year. The East Tennessee Congressman sold stock in companies such as Disney and cruise lines while buying stock in Zoom and vaccine makers.
North Carolina Senator Richard Burr is under U.S. Justice Department investigation after he unloaded $1.7 million in stocks just days before the growing health crisis caused stock markets to tank beginning in late February.
The Tennessean says it's unclear if the trades made by Congressman Roe were undertaken using information unavailable to the public, but notes his actions are not typical of other lawmakers.
A Roe spokesperson declined to comment directly in response to the Tennessean story, but told the newspaper that the Congressman does not personally manage his own investments.