From $5.38 to 17 Cents: Inside Senator McConnell's 97% Stock Wipeout

When it comes to tracking the banal trading enactment of members of Congress, investors often wage attraction to the stocks that summation oregon whitethorn rise conflicts of interest. A legislator disclosed selling a banal for a important nonaccomplishment successful 2025 that mightiness not get arsenic overmuch attention.

Sen. Mitch McConnell (R-Ky.) reported selling shares of Luminar Technologies (OTC:LAZRQ) in 2 transactions successful 2025, according to the Benzinga Government Trades page.

Here are the trades that were made by his spouse:

• June 26: Sold $15,000 to $50,000 successful LAZR stock

• Dec. 24: Sold $1,000 to $15,000 successful LAZR stock

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The latest transaction came soon aft the lidar institution that was erstwhile valued astatine much than $10 billion, declared bankruptcy. Shares present commercialized connected the OTC aft antecedently trading connected the Nasdaq arsenic ticker LAZR.

McConnell reported owning $15,000 to $50,000 successful Luminar Technologies banal successful 2024, via an yearly disclosure filing. It is chartless astatine what terms the shares were obtained.

Benzinga reached retired to the legislator for comment.

McConnell's woman is Elaine Chao, who antecedently served successful authorities roles, including arsenic the Secretary of Labor and the Secretary of Transportation. Chao was named to the Luminar Automotive Council successful April 2025.

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Luminar shares closed 2024 trading astatine $5.38 each. The banal reached a precocious of $10.40 successful January, past traded beneath $5 successful April and ne'er looked back.

While it is chartless however overmuch McConnell paid for the shares, investors tin cipher however overmuch helium mislaid by not selling astatine the extremity of 2024 and alternatively waiting until 2025. The remaining question is whether helium made a nett oregon nonaccomplishment depending connected the acquired price.

On June 26, 2025, Luminar shares traded astatine a precocious of $2.95, down 45.2% from the closing 2024 stock price.

On Dec. 24, 2025, Luminar shares traded astatine a precocious of $0.169, down 96.9% from the closing 2024 stock price.

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If McConnell had $15,000 successful Luminar shares from 2024 that were inactive held erstwhile helium sold connected Dec. 24, the transaction would person been worthy $471.17. This means McConnell missed retired connected $14,528.83 helium could person had if helium sold the shares earlier the extremity of 2024.