FBI Director Kash Patel was questioned by Rep. Joe Neguse about two of his stock purchases made earlier this year during a Congressional hearing on Wednesday. The transactions have raised concerns about potential conflicts of interest.
Patel bought Krispy Kreme (DNUT) shares for $15,001 to $50,000 in May and ON Semiconductor (ON) shares for $50,001 to $100,000 in May. He claimed he followed certain industries that he thought would be good investments.
However, Patel had previously sold off many of his stock positions due to potential conflicts of interest. The purchases are listed with “no current conflict exists” in a financial disclosure filed by Patel.
The incident has sparked bipartisan efforts to ban lawmakers and cabinet members from buying and selling stocks. Patel offered his support for divesting stocks entirely, saying he would work with Congress on the issue.
Krispy Kreme’s stock price soared after Patel’s comments, rising 11.5% in intraday trading. The company’s shares have traded between $2.50 and $12.67 over the last 52 weeks.
Source: https://www.benzinga.com/news/politics/25/09/47729209/fbi-director-kash-patel-bought-2-stocks-in-2025-ones-already-a-meme-favorite