Questions have been raised after White House Deputy Chief of Staff Stephen Miller sold shares in a mining company shortly after it announced a major deal with the Trump administration, sending the company’s share price skyrocketing, according to a report.
Miller, one of President Donald Trump’s most loyal allies, sold between $50,000 and $100,000 worth of shares in MP Materials after the government agreed in July to invest $400 million in the company in exchange for a 15 percent stake and a commitment to buy its products, The New York Times reported.
The day before the deal was announced, MP Materials’ share price stood at $30.03. The following day, it rose to $45.23 before hitting a historic high of $76.58 on Aug. 14, the date Miller sold his shares. The stock later peaked at just under $99 on Oct. 14, but has since fallen to $59.82 as of early Wednesday morning.
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