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Trump Portfolio Trades SPCX Stock; SpaceX President Shotwell Plans to Sell Nearly $52 Million in Shares

Source Tradingkey

TradingKey - U.S. government financial disclosures show that Trump's portfolio bought and sold SpaceX (SPCX) stock in July. Regulatory filings released during the same period show that SpaceX President and Chief Operating Officer Gwynne Shotwell plans to sell 342,170 shares of company stock, with a declared market value of approximately $51.96 million.

Specifically, Trump's portfolio bought SpaceX stock valued between $15,001 and $50,000 on July 10 and sold shares valued between $1,001 and $15,000 on July 17. Because government financial disclosures use value ranges, the exact transaction sizes were not disclosed. SpaceX's stock price fell by about 15% between the two trades.

spcx-1-a6d9866bd6424e53915e7c01edb3c7f0

[Source: TradingView]

The aforementioned transactions were among more than 1,000 securities trades conducted by Trump in July. The White House previously stated that his portfolio is independently managed by a third-party financial institution and allocated with reference to indexes such as the Schwab 1000.

SpaceX is a military and aerospace contractor for the U.S. government and frequently requires approval from federal agencies. The fact that Trump's portfolio holds and trades the company's stock has raised questions about potential conflicts of interest.

Shotwell filed a Form 144 on September 22, intending to sell 342,170 shares of SpaceX common stock through Morgan Stanley after acquiring the shares by exercising stock options. The filing listed June 23 as the date the Rule 10b5-1 trading plan was adopted or the trading instruction was given.

Notably, Form 144 is a notice of proposed sale and does not mean that the shares have been sold.

spcx-2-66dbd587ad3d4578b6d838829f4f0896

[Source: SEC Filings]

Source

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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