"Attorney General Pam Bondi's Stock Sale Raises Insider Trading Concerns Amid Trump Media Tariff Announcement"
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"Attorney General Pam Bondi's Stock Sale Raises Insider Trading Concerns Amid Trump Media Tariff Announcement"
[!CDATA[Attorney General Pam Bondi recently sold millions of dollars in shares of Trump Media on the same day President Donald Trump announced significant tariffs. The tariffs, known as “Liberation Day” tariffs, caused the stock market to drop, leading to a 13 percent decrease in Trump Media's stock price. Bondi's disclosure forms revealed that she sold between $1 million and $5 million of shares in Trump Media on April 2, the day the tariffs were announced. The timing of Bondi's stock sale raises questions about potential insider trading, as government officials making trades based on non-public information could violate the law. However, determining the legality of such actions can be complex, with recent court rulings narrowing the definition of insider trading. It is unclear whether Bondi had access to privileged information regarding the tariffs in her capacity as attorney general. Bondi's disclosure forms indicated that she sold a range of stocks, including between $250,000 and $500,000 of warrants in Trump Media. These forms did not specify the exact timing or price of the stock sales. Trump Media's stock price closed at $18.76 on April 2 and dropped to $17.92 the following day after the tariff announcement. Bondi had previously disclosed her ownership of Trump Media shares, acquired through her consulting work with Digital World Acquisition Corp. As part of her ethics agreement, Bondi committed to selling her stake in Trump Media within 90 days of her confirmation as attorney general. Trump Media's recent financial disclosures revealed a loss of $400.9 million last year, with annual revenue decreasing by 12 percent to $3.6 million. The company's stock price, which reached $52 at its peak, closed at $26 per share on a recent trading day. Truth Social, the social media platform operated by Trump Media, was launched after Trump's suspension from Twitter and Facebook following the January 6, 2021, Capitol attack. Despite being reinstated on those platforms, Trump continues to post on Truth Social. The Department of Justice has been contacted for comment on Bondi's stock sale and potential insider trading concerns.]]