Stock for Sale by Cabinet Members

Published On Nov 23, 2024, 8:00 AM

President-elect Donald Trump has appointed Scott Bessent as Treasury Secretary and Howard Lutnick as Commerce Secretary. Both top executives, Bessent from Key Square Group and Lutnick from Cantor Fitzgerald, will need to divest from their companies due to their new government roles. Lutnick's decision to leave Cantor Fitzgerald amid strategic ambitions for BGC Group could impact stock performance. BGC shares have declined by 8% this week, while Newmark's shares are up 1%.

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Newmark's stock has increased as Lutnick prepares for his departure, possibly indicating market confidence in its direction despite Lutnick's exit.

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