Sitting members of the United States Congress tend to secure a hefty return on their stock investments. Beyond possessing an informational edge, U.S. politicians also regulate the very industries they often invest in.
However, these advantages do not always materialize as success. For a long time, Marjorie Taylor Greene, the controversial Representative of Georgia’s 14th congressional district, simply couldn’t catch a break. Her lack of success in the financial markets even spawned the idea of an ‘inverse Marjorie’ strategy, akin to the infamous ‘Inverse Cramer’ exchange-traded fund (ETF).
In a slightly unexpected turn of events, the last quarter of 2024 proved to be a turning point for the Georgia congresswoman. As she adjusted her portfolio to include a larger allocation of big tech, the returns started piling in.
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One of her most notable investments was Facebook and Instagram parent company Meta Platforms (NASDAQ: META). Per data retrieved by Finbold’s congressional trading radar from SEC filings, Taylor Greene invested in Meta stock 3 times in the closing months of last year — and made a tidy profit from doing so.
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MTG secured double-digit returns from Meta stock investment
MTG’s first purchase, worth between $1,001 and $15,000, was made on October 4. Her second purchase, which falls in the same reporting range in terms of dollar amount, came on November 1. Finally, the Representative made a final $1,001 to $15,000 purchase of Meta stock on December 24.
At the time of her first purchase, the price of a single Meta share was $595.94 — while prices at the time of her second and third acquisition were $567.16 and $607.75.
By press time on January 28, Meta stock was changing hands at a price of $662.98.
Accordingly, in relation to MTG’s three purchases, that equates to an 11.24%, 16.89%, and 9.08% price increase, respectively. That evens out to a 12.40% return on an investment worth between $3,003 and $45,000.
At the lower end of the reporting range, Taylor Greene’s investment would now be worth $3,374 — with a $371 profit. In contrast, at the upper end of the reporting range, a $45,000 investment would now be worth $50,580 — with a gain of $5,580.
As impressive as the congresswoman’s returns on this trade are, this is likely just the beginning — as several major Wall Street firms have recently expressed confidence that Meta stock can reach levels above $700.
Featured image via Shutterstock
