From $5.38 to 17 Cents: Inside Senator McConnell's 97% Stock Wipeout
When it comes to tracking the stock trading activity of members of Congress, investors often pay attention to the stocks that gain or may raise conflicts of interest. A senator disclosed selling a stock for a significant loss in 2025 that might not get as much attention.
Senator McConnell Sells Luminar Stock In 2025
Sen. Mitch McConnell (R-Ky.) reported selling shares of Luminar Technologies(OTC:LAZRQ) in two transactions in 2025, according to the Benzinga Government Trades page.
Here are the trades that were made by his spouse:
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June 26: Sold $15,000 to $50,000 in LAZR stock
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Dec. 24: Sold $1,000 to $15,000 in LAZR stock
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The latest transaction came shortly after the lidar company that was once valued at more than $10 billion, declared bankruptcy. Shares now trade on the OTC after previously trading on the Nasdaq as ticker LAZR.
McConnell reported owning $15,000 to $50,000 in Luminar Technologies stock in 2024, via an annual disclosure filing. It is unknown at what price the shares were obtained.
Benzinga reached out to the senator for comment.
McConnell's wife is Elaine Chao, who previously served in government roles, including as the Secretary of Labor and the Secretary of Transportation. Chao was named to the Luminar Automotive Council in April 2025.
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Luminar Has Rough 2025
Luminar shares closed 2024 trading at $5.38 each. The stock reached a high of $10.40 in January, then traded below $5 in April and never looked back.
While it is unknown how much McConnell paid for the shares, investors can calculate how much he lost by not selling at the end of 2024 and instead waiting until 2025. The remaining question is whether he made a profit or loss depending on the acquired price.
On June 26, 2025, Luminar shares traded at a high of $2.95, down 45.2% from the closing 2024 share price.
On Dec. 24, 2025, Luminar shares traded at a high of $0.169, down 96.9% from the closing 2024 share price.
If McConnell had $15,000 in Luminar shares from 2024 that were still held when he sold on Dec. 24, the transaction would have been worth $471.17. This means McConnell missed out on $14,528.83 he could have had if he sold the shares before the end of 2024.
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