Not all U.S. politician stock traders are as savvy as Nancy Pelosi. Representative Marjorie Taylor Greene is a clear example of many mistimed trades, with the latest purchase of $250,000 worth of U.S. Treasury bills potentially potentially being another misstep.
Namely, on August 2, Greene disclosed an additional purchase of U.S. Treasury bills, having already bought $500,000 worth on July 24.
The current yield of U.S. Treasury bills is 3.84%, which is among the lowest levels in 2024. It has been in a clear downward trend from just a week ago, when it stood at 4.2% and is far off from the peak of 4.7% on April 25.
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Notably, the yield directly correlates with investors’ outlook on the overall economy. A higher yield is viewed as a better outlook than a negative one when the yield is lower.
Greene has mistimed other stock trades in 2024
Adding to the recent trend, Representative Marjorie Taylor Greene made an ill-timed investment in CrowdStrike (NASDAQ: CRWD) stock in late June.
She reported the purchase on June 27, three days after acquiring the shares. Since then, CrowdStrike’s stock has plummeted 42%, reaching $222.05 at the time of reporting.
This significant decline was primarily caused by a global computer outage linked to a faulty cybersecurity company update.
Moreover, looking at her most recent stock purchases, which she reported on July 24, out of six trades, only two have been in the green since, while some have recorded double-digit losses in less than two weeks.
Greene recently claimed that she doesn’t trade stocks
According to her, Greene is an opponent of Congressional stock trading, as stated in an interview on January 3.
However, since then, the U.S. Representative has been notably active in stock trading; the Georgia Republican has made significant transactions in the first half of 2024, with reported stock purchases totaling $2.08 million and sales amounting to $65,000.
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