re: More fake news from CNN

quote:

---

By repeating Schumer's allegations

---

They are "reporting" his allegations, which will surely be part of hearings, while not editorializing as to the possible outcome relative to his confirmation.

quote:

---

The Trump transition Team and others pointed out to CNN that Price's financial advisor rebalanced Price's portfolio independently "to ensure proper diversification". In the course of the rebalancing, the portfolio manager purchased 26 shares of Zimmer Biomet's stock worth $2,697.14.

---

Although it was a very small investment, Zimmer Biomet does have a high rating, but is a company with a very high PE, flat to declining sales that is leaking cash at a pretty high rate. Maybe he was light on the speculative portion of his portfolio. Nevertheless....

quote:

---

Price learned of the purchase on April 4, 2016 when his financial advisor sent him a list of trades to be disclosed on his House Periodic Transaction Report (PTR). He filed those on April 15, 2016.

---

The stock was purchased on 3/17/16 and he introduced the HIP Act, which benefitted ZBH on 3/23/16. Maybe it was a complete coincidence, that's what the confirmation hearings are for.

quote:

---

CNN was asked to retract the story. Instead CNN has doubled down on questioning about it. CNN continuing to press the false narrative is "fake news"

---

Nothing has been presented that would warrant a retraction. They reported how this came to pass and his explanation, it will be part of the confirmation, and they'll report the outcome...it's called "news". But keep on keeping on.