Key points
- Rep. Laurel Lee (R-FL15) disclosed on July 19, 2026 that her spouse sold Nokia three separate times this year: May 11, June 2, and July 6.
- Nokia has fallen from every one of those sale prices. As of Tuesday afternoon, the stock is down about 24% from the May 11 price, 37% from the June 2 price, and 15% from the July 6 price.
- The June 2 sale landed on the exact day Nokia peaked, three trading days before the stock's sharpest single-day drop of the year.
- Two of the three sales were disclosed past the STOCK Act's 45-day window. The May 11 sale was reported 69 days later.
Laurel Lee, the Republican congresswoman representing Florida's 15th district, filed a periodic transaction report on July 19 showing her husband, Tom Lee, a former president of the Florida Senate, sold Nokia (NOK) stock or options three separate times this year. All three sales happened months apart, at three very different points in one of Nokia's most volatile stretches in years, and the stock has since fallen from every single price he got out at.
What the filing shows
The trade showed up on our Congress trade tracker, which watches around 100 sitting members for new disclosures as they land. The same filing also covers two other sales, General Electric and Bank of America, both also from the spouse's account. Everything below is reported in a dollar range rather than an exact figure, which is all the STOCK Act actually requires.
| Date | Action | Asset | Amount |
|---|---|---|---|
| May 11, 2026 | Sold | Nokia (NOK) stock | $15,001 to $50,000 |
| June 2, 2026 | Sold | Nokia (NOK) option | $1,001 to $15,000 |
| June 2, 2026 | Sold | Bank of America (BAC) option | $1,001 to $15,000 |
| June 16, 2026 | Sold | General Electric (GE) option | $1,001 to $15,000 |
| July 6, 2026 | Sold | Nokia (NOK) option | $1,001 to $15,000 |
Nokia's year explains why the timing stands out
Nokia had a wild few months. Its first quarter report on April 23 came in strong, and the stock took off. It was up more than 65% off its April lows by early May, and didn't double until early June on AI and networking demand. The run topped out at $16.85 on June 2. Three trading days later, on June 5, Nokia fell about 13.5% in a single session. The rally had simply run its course, and the stock kept sliding into July.
| Sale date | Nokia price that day | Price now | Change since |
|---|---|---|---|
| May 11, 2026 | $13.92 | $10.63 | -23.6% |
| June 2, 2026 | $16.85 (the peak) | $10.63 | -36.9% |
| July 6, 2026 | $12.51 | $10.63 | -15.0% |
The June 2 date is easy to overstate, though. Nokia had already climbed more than 200% over the prior year by early June, and Wall Street was openly debating whether the stock had become fully valued days before it turned over. A sale right at the top does not require any special insight, plenty of ordinary investors were thinking about taking profits around then too. What stands out is narrower than that: out of roughly 100 trading days Nokia had that year, this sale landed on the single best one.
The other two sales tell a slightly different story. May 11 came about three weeks after Nokia's own Q1 earnings report, while the stock was still climbing, well before the eventual peak. Whoever sold that day left more than 20% of additional gains on the table before Nokia topped out three weeks later. July 6, the most recent of the three, came 17 days ahead of Nokia's next earnings report, scheduled for this Thursday, July 23, during a stretch where the stock was already sliding and kept sliding afterward.
The other two sales in the same filing
Bank of America and General Electric options also sold out of the same account, both in amounts of $1,001 to $15,000. The results split. Bank of America was sold June 2, the same day as that Nokia peak, at $52.48. It has since climbed to $60.93, up about 16%, so that one gave up real upside. General Electric, sold June 16 at $351.73, has slipped to about $341, down roughly 3%, a smaller miss the other direction. Two out of three names moving against the seller is a normal batting average for anyone trading options regularly. Nokia's result, falling every single time, is the cleaner one of the three.
A pattern of late filings
The STOCK Act gives members of Congress 45 days to disclose a trade. Two of these five sales made that deadline: the July 6 Nokia sale, reported 13 days later, and the June 16 General Electric sale, reported 33 days later. The other three ran past it. The June 2 Nokia and Bank of America sales were both reported 47 days later, two days late. The May 11 Nokia sale was reported 69 days later, 24 days past the deadline. Late PTR filings are common on Capitol Hill and usually only draw a small fine. Sixty-nine days is still a long gap.
What this filing doesn't tell you
A periodic transaction report only gives you the trade and a dollar range, disclosed weeks or months after it happened. The filing itself is silent on intent. Nothing here is evidence that Lee or her spouse knew anything about Nokia, Bank of America, or General Electric that the public didn't, and members of Congress and their families face the same ban on trading material non-public information as everyone else does. A stock that had already tripled looking like a good one to lock in gains on is an ordinary explanation, and it fits everything in this filing just as well as anything else would. Nokia reports second quarter earnings this Thursday, July 23. That will add one more data point to how this stretch actually played out.
Sources
- House periodic transaction report, Filing #20034694, signed July 19, 2026
- Our Congress trade tracker, updated as new disclosures land
- Related reading: Dan Crenshaw sold four Big Tech names on the same day
- Related reading: Should you actually copy stocks bought by hedge funds, Congress, or insiders?
- Price data via Yahoo Finance market data
- Cover photo: U.S. Capitol, west front, public domain, via Wikimedia Commons, composited with Lee's official congressional portrait (House Creative Services, public domain)
This reflects a public STOCK Act disclosure and price data, not investment advice. Jennifer Song does not hold positions in the securities discussed. Prices are as of Tuesday afternoon, July 21, 2026, and will move. Always do your own research and consider speaking with a licensed financial professional before making any investment decision.
