Senator Mitch McConnell of Kentucky reported selling shares of Luminar Technologies in 2025, according to records from the Benzinga Government Trades page. The transactions were made by his spouse, Elaine Chao, on June 26 and December 24.
On June 26, a sale valued between $15,000 and $50,000 was reported. On December 24, another sale was reported, valued between $1,000 and $15,000.
Luminar Technologies, once valued over $10 billion, declared bankruptcy earlier in 2025. Its shares now trade on the OTC market after previously being listed on Nasdaq under the ticker LAZR.
McConnell had reported owning $15,000 to $50,000 in Luminar stock in his 2024 annual disclosure filing. The acquisition price of the shares is not publicly known.
Elaine Chao, who previously served as Secretary of Labor and Secretary of Transportation, was named to the Luminar Automotive Council in April 2025.
Luminar shares closed 2024 at $5.38 each. The stock price reached a high of $10.40 in January 2025 before declining below $5 in April and continuing to fall.
On June 26, 2025, Luminar shares traded at a high of $2.95, representing a 45.2% decline from the 2024 closing price. On December 24, 2025, shares traded at a high of $0.169, a 96.9% drop from the 2024 closing price.
If McConnell held $15,000 in Luminar shares from 2024 until the December 24 sale, the transaction would have been worth approximately $471.17. This represents a potential loss of $14,528.83 compared to selling at the end of 2024.
Although the trades were executed by Chao, they are disclosed under McConnell's name in compliance with the STOCK Act. Benzinga has contacted the senator for comment.