New ad hits Georgia senator for profiting off coronavirus with stock sales

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Sen. David Perdue (R-GA) made profitable stock transactions just after receiving a private briefing on the coronavirus.

A new ad from Georgia Democratic Senate nominee Jon Ossoff highlights allegations that his opponent, incumbent Republican Sen. David Perdue, profited from the coronavirus crisis.

The ad shows footage of news anchors reporting that Perdue "bought and sold stock shortly after a private Senate briefing on the virus." It notes that, early in the pandemic, Perdue bought stock in both a company that made protective medical equipment and a pharmaceutical company working on a vaccine, while he sold stock in casinos and hotels.

"Instead of using his insider knowledge to prepare our country, David Perdue lined his own pockets," the ad claims.

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The ad is based on various reports about Perdue's financial disclosures.

On Jan. 24, the same day senators received a private briefing on the new coronavirus, Perdue bought as much as $65,000 worth of stock in DuPont de Nemours, a company that makes protective equipment, the Atlanta Journal-Constitution reported in April.

In March, as many states were beginning to implement business restrictions, Perdue sold stock in Caesars Entertainment, a casino company, and invested up to $50,000 in the video streaming service Netflix.

In April, Perdue's office claimed that the senator's finances were managed by an "outside adviser" and that Perdue was "not involved in day-to-day decisions."

A month later, Perdue released a statement claiming outside advisers handled the "majority of our stock investments," leaving open the possibility that Perdue himself was involved in some of the controversial trades.

Perdue is a first-term senator facing a challenge from Ossoff. While Perdue maintains a four-point lead in an average of recent polls, the race is rated "toss up" by the Cook Political Report.

Republicans currently hold a 53-47 majority in the U.S. Senate. The Perdue-Ossoff race is being closely watched as a possible win for Democrats that would help flip the Senate majority to them.

Georgia has traditionally been a Republican stronghold, but Donald Trump has just a narrow 1.3 point lead in an average of recent polls of the state over Democratic nominee Joe Biden.

Published with permission of The American Independent Foundation.