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2w ago

Krispy Kreme Gives Back Gains After Patel Testimony-Fueled Spike, Refocusing Attention on Officials’ Stock Trading

Patel said his purchases were cleared through DOJ review, with OGE disclosures noting no current conflict.

Krispy Kreme doughnuts was founded in North Carolina in 1937. The company's shares are down 68% this year despite brief rallies.
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Overview

  • During a House Judiciary hearing on Sept. 17, FBI Director Kash Patel defended 2025 buys of Krispy Kreme and ON Semiconductor as “good investments.”
  • His disclosure shows he purchased $15,001–$50,000 of Krispy Kreme on May 9 and $50,001–$100,000 of ON Semiconductor on May 12.
  • Patel testified he submits proposed trades under Department of Justice guidance for preclearance, and his OGE filing states “no current conflict exists.”
  • Krispy Kreme jumped as much as 11.5% intraday after his remarks and ON rose 4.1%, but the moves faded to roughly 1% and 0.5% by the close.
  • Krispy Kreme shares fell about 3% Friday morning after the midweek pop, even as the stock remains higher for the week and debate over officials’ trading rules intensifies.