Former House Speaker Nancy Pelosi is famed for being one of the most successful members of Congress, particularly for the significant gains realized through her strategic stock bets.
In the latest development, Quiver Quantitative’s analysis shows fellow lawmakers are seemingly emulating her trading strategy. In this context, Congresswoman Marjorie Taylor Greene is the latest politician to appear to copy Pelosi’s approach.
In a post on X on September 5, the platform disclosed that Greene had updated her portfolio with a series of stock trades favored by Pelosi.
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Greene’s latest trades, disclosed on September 4, 2024, include investments in technology giants Nvidia (NASDAQ: NVDA) and Palo Alto Networks and other significant purchases, such as CrowdStrike. Specifically, her stake in Nvidia ranges between $1,001 and $15,000, with a similar amount allocated to Palo Alto Networks (NASDAQ: PANW).
While these are high-profile names, the initial returns have not been favorable. Nvidia has declined 1.78%, and Palo Alto Networks has fallen 2.94% since the trade.
Greene’s negative returns
However, her purchases have not yielded significant returns as the recent overall bearish market sentiment has weighed them down. Notably, she purchased CrowdStrike (NASDAQ: CRWD) shares in July, just before the company experienced a significant outage that caused the stock to plummet by over 30%. Since her $1,001 to $15,000 purchase in CrowdStrike, the stock has declined by 2.48%.
Similarly, her investment in Dell (NYSE: DELL), which she bought in July, has dropped by 13%, while Intel, another stock she acquired recently, has already declined by 9%.
Reviewing Greene’s latest stock purchases indicates that she is heavily betting on the technology sector, which has dominated the market in recent months. Notably, the industry is led by Nvidia, widely considered the leader in the artificial intelligence (AI) boom.
Notably, her focus on tech stocks began in early 2024 when she disclosed purchases in semiconductor giant Advanced Micro Devices (NASDAQ: AMD) and Apple (NASDAQ: AAPL).
It’s worth noting that Greene has been on a stock trading spree in recent weeks. As reported by Finbold on July 2, the Republican politician also made purchases in Nestlé (OTCMKTS: NSRGY), NextEra Energy (NYSE: NEE), Costco (NASDAQ: COST), U.S. Treasury Bills, ASML Holdings (NASDAQ: ASML), and Lululemon (NASDAQ: LULU).
Insider trading concerns
In summary, Greene’s stock purchases will likely escalate the debate on insider trading accusations involving politicians. Such transactions have historically raised questions regarding possible access to insider information.
Previous reports indicate that Greene is among the biggest beneficiaries of the stock market. The politician, however, defended herself by claiming, “I’m holding it for a friend.”
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