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

Core Insights - Senator Mitch McConnell sold shares of Luminar Technologies in 2025, following the company's bankruptcy declaration, which significantly impacted the stock's value [2][4]. Company Transactions - McConnell's spouse reported selling Luminar stock in two transactions in 2025, with the latest occurring shortly after the company declared bankruptcy [2]. - The senator's reported ownership of Luminar stock was between $15,000 to $50,000 in 2024, but the acquisition price remains unknown [3]. Stock Performance - Luminar shares closed at $5.38 at the end of 2024, peaked at $10.40 in January 2025, but fell below $5 in April 2025 [4]. - On June 26, 2025, Luminar shares traded at $2.95, reflecting a 45.2% decline from the 2024 closing price, and by December 24, 2025, the shares dropped to $0.169, a 96.9% decrease from the previous year [5]. Financial Implications - If McConnell held $15,000 in Luminar shares until December 24, 2025, the value would have plummeted to approximately $471.17, indicating a missed opportunity of $14,528.83 had he sold before the end of 2024 [6].