Last month, package delivery giant UPS had very rough day. Or to put it more accurately, their shareholders had a rough day. But to be even more accurate, I should say most of their shareholders had a rough day. The company released its second-quarter earnings report and it was far below what most investors on Wall Street had projected. As soon as the news broke, the company’s stock sank like a stone, plunging more than 12% in a single day. It was the largest single-day drop in stock value that the company ever registered. But as alluded to above, not everyone took such a hard hit. In what must have been one of the most fortuitous twists of good fortune seen in recent memory, Republican Congressman Michael Burgess of Texas just happened to sell his UPS stock the day before the crash. Having gotten the requisite sarcasm out of the way, needless to say, this is raising eyebrows among…
One Congressman’s Suspicious Stock Sale Under Scrutiny – HotAir
