Congresswoman Marjorie Taylor Greene has extended her 2024 stock trading momentum, this time disclosing almost a dozen trades in diverse sectors.
Particularly, filings dated October 22, 2024, indicated that the politician executed a series of trades on October 21, investing between $1,001 and $15,000 in several blue-chip companies.
Among her key trades are investments in semiconductor firm ASML Holding (NASDAQ: ASML), Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A), Blackstone (NYSE: BX), Caterpillar (NYSE: CAT), and Home Depot (NYSE: HD).
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Greene’s preference for technology stocks
The lawmaker also showed an increasing inclination toward technology by purchasing stakes in Intel (NASDAQ: INTC) and Microsoft (NASDAQ: MSFT). Indeed, the technology sector has dominated the stock market in 2024, partly contributing to the S&P 500 hitting record highs.
Her preference for these stocks shows consistency with her previous rounds of buying, where she has also increasingly favored artificial intelligence companies.
This has led to speculation that she might be copy-trading other congressional members, such as former House Speaker Nancy Pelosi, who ranks among the most successful traders on Capitol Hill.
Her latest portfolio update further includes Nestlé S.A. (NSRGY), electric vehicle manufacturer Tesla (NASDAQ: TSLA), and Visa (NYSE: V).
Earlier, Finbold reported that Greene also disclosed a series of purchases amounting to almost $120,000. The purchase included Applied Materials (NASDAQ: AMAT), Lam Research (NASDAQ: LRCX), Meta Platforms (NASDAQ: META), U.S. Treasury bills among others.
A review of Greene’s trading activity indicates she often employs a dollar-cost averaging strategy, gradually building her positions.
For example, in July, she purchased stakes in Applied Materials and Dell (NYSE: DELL), which closed at $219.65 and $125.85 on the day of her buy. This likely lowered her average purchase price. By October 4, Applied Materials closed at $201.97, while Dell ended at $120.42.
Despite this strategy, Greene has not been generally successful with her stock bets. At some point, the politician recorded losses on her purchases of equities, such as cybersecurity giant CrowdStrike (NASDAQ: CRWD).
Controversy around Greene’s stock purchases
As expected, her stock market involvement has resulted in a controversy similar to that faced by other politicians regarding the potential use of insider information in making purchases. Interestingly, she has previously defended herself, stating that she does not own stocks but rather holds them for someone else.
To this end, Oregon Democratic Senator Jeff Merkley is pushing for a bill that seeks to bar Congress members from trading stocks, citing the use of privileged information to make strategic purchases on Wall Street.
