Welch denies knowing about his profitable C-19 research stock purchase - VT Digger

Although Vermont’s congressman was briefed about Covid-19 research in progress, Peter Welch said his stock adviser made savvy biotech stock deals without his knowledge.

"Welch said he sold the Qiagen stocks Tuesday and planned to donate all profits from the transaction — he estimated somewhere between $300 and $500 — to the Committee on Temporary Shelter (COTS), a Vermont-based charity that helps the homeless. A spokesperson for Welch said he purchased 210 shares less than a month ago at $36.36 a share, an investment of $7,635.60. Shares sold for as low as $38.81 on Tuesday and closed with a high for the day at $39.86, meaning Welch walked away with between $8,150.10 and $8,370.60, a profit of $514 to $735, depending on what time of the day he sold.."

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  • M. Dunham
    commented 2020-04-04 20:36:59 -0400
    Just like Judge Frank G. Mahady “forgetting” to pay his taxes for five years. Right.
  • P. Maloney
    commented 2020-03-29 09:30:35 -0400
    11.5% profit for one month’s hold…not bad.
    What’s more curious is the timing. He bought a biotech right when the virus panic was ramped up and sold on the bounce. Such prescience seems to prevail in congress but eludes the “experts” who manage all the pensions and 401(k)s for the proles.