While it’s unclear if the stock trades were based on information unavailable to the public, Roe's transactions occurred as Trump administration officials held pandemic briefings with members of Congress.
“Over the past two weeks, we have seen the U.S. stock market plummet,” he wrote in his column. “However, we will not let this virus destroy the economy we worked so hard to rebuild.”
Roe’s decision to sell stocks in early March prevented him from losing hundreds of thousands, if not millions, of dollars, an analysis of trades shows. Most of the stocks Roe sold in early March hit their lowest points of the year on March 18 or March 23. internal memo filed with the Securities and Exchange Commission noted Delta’s revenues had fallen by $2 billion due to drops in demand amid COVID-19.
have a major presence on the Internet. They include Alphabet, Google’s parent company; Amazon; online-based pet supply company Chewy.com and retailer Wayfair; online-based car retailer Carvana; Spotify, a music streaming service; Roku, a TV streaming service; Slack, a technology-based messaging company; and Zoom, which has become a go-to resource for businesses and individuals during the pandemic.
Less than a week later, Moderna announced it was working with the U.S. National Institutes of Health to finalize a sequence to create a COVID-19 vaccine. Since then, the company launched a joint effort with the National Institute of Allergy and Infectious Diseases to begin the first human vaccine tests for COVID-19 in mid-March.
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