Summary
⚈ Trade timing raised concerns, given her Homeland Security role and Palantir’s ICE deal days later.
⚈ Her portfolio saw mixed results, with big gains in Tesla and losses in Old Dominion.
Rep. Marjorie Taylor Greene’s stock purchases during the early April tariff-induced market dip have produced mixed results, but American software giant Palantir (NASDAQ: PLTR) has emerged as a standout.
Since purchasing the artificial intelligence (AI) equity on April 8, Palantir has surged 50% in three weeks, closing at $116.08 in the latest trading session.
Greene’s Congress trade in Palantir, valued between $1,001 and $15,000, came less than a week after President Donald Trump’s April 2 “Liberation Day” tariff announcement triggered a broad market sell-off, with the S&P 500 plunging over 10%.
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Controversy surrounding the purchase stems from the market’s sharp rebound after Trump paused most tariffs on April 9, excluding those on China.
Greene’s insider trading allegation
While there is no evidence of wrongdoing, the timing of Greene’s trade also coincided with a notable development for the Denver-based tech firm. On April 17, Palantir announced a $30 million deal with U.S. Immigration and Customs Enforcement (ICE).
As a member of the House Committee on Homeland Security, Greene may have had insight into such contracts. However, the lawmaker has stated that she does not personally manage her stock trades.
Palantir’s broader rally began after it surged past the $100 mark in early February, triggered by impressive Q4 2024 earnings results. Despite pullbacks due to valuation concerns, potential DoD budget cuts, and tariff-related market pressures, the stock bottomed around $66 in early April.
It has since rebounded strongly, boosted by a NATO contract for its AI-powered Maven Smart System and a deal with AI firm Anthropic to bring its Claude LLM to the public sector.
Palantir wasn’t the only winner in Greene’s portfolio. Other strong performers included electric vehicle manufacturer Tesla (NASDAQ: TSLA), which has risen 32%; Impinj (NASDAQ: PI), which has gained 43%; and Southern Copper (NYSE: SCCO), up 22%.
In general, Greene’s trades have drawn criticism from Democrats, who are calling for investigations into potential insider trading or market manipulation tied to the tariff news.
Featured image from Shutterstock
