A new bombshell report by The Daily Beast has found that Rep. Dan Crenshaw (R-Houston) purchased hundreds of thousands of dollars worth of stock during the onset of the pandemic in March 2020.
Crenshaw purchased stock from Amazon, Southwest, Boeing, and Houston-based pipeline company Kinder Morgan.
An annual report of his stock trades shows Crenshaw purchased up to a maximum of $120,000 in stocks. A spokesperson for Crenshaw told The Daily Beast the number was closer to $30,000.
The Republican lawmaker did not disclose the stock trading until this December when he amended the annual report to include the purchases.
“The day that Crenshaw bought Boeing, markets snapped their brief positive burst, and the company led the boards that day in losses,” read the report. “His investment has now grown more than 38 percent. Boeing’s employee PAC gave $3,000 to Crenshaw’s 2020 campaign.”
Due to his delay in disclosing the reports, Crenshaw escaped criticism and headlines that other lawmakers faced for making similar stock purchases.
Photo: Ethan Miller/Getty Images
Fernando covers Texas politics and government at the Texas Signal. Before joining the Signal, Fernando spent two years at the Houston Chronicle and previously interned at Houston’s NPR station News 88.7. He is a graduate of the University of Houston, Jack J. Valenti School of Communication, and enjoys reading, highlighting things, and arguing on social media. You can follow him on Twitter at @fernramirez93 or email at firstname.lastname@example.org