United States Representative Marjorie Taylor Greene is accelerating her stock trading activities for 2024, this time reporting purchases in diverse companies.
In particular, she has disclosed new stock purchases worth about $120,000, spanning sectors, including semiconductor manufacturing, financial services, technology, and government securities.
The Congress trades, made on October 4, 2024, focused on Applied Materials (NASDAQ: AMAT), ASML Holding (NASDAQ: ASML), Lam Research (NASDAQ: LRCX), Visa (NYSE: V), Meta Platforms (NASDAQ: META), and U.S. Treasury bills to her portfolio.
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Greene also invested in Costco (NASDAQ: COST), Dell Technologies (NYSE: DELL), FedEx (NYSE: FDX), and JPMorgan Chase (NYSE: JPM). Each transaction was valued between $1,001 and $15,000, while the Treasury bills recorded the highest allocation between $50,001 and $100,000.
With her investments in semiconductor companies like ASML and Lam Research, alongside major tech firms like Meta Platforms, Greene appears particularly bullish on sectors critical to the future of technology and infrastructure. Notably, these sectors have dominated the stock market for the better part of 2024.
Other purchases by Greene
The latest transactions add to Greene’s ranking among the most active Congress members heavily involved in stock trading in 2024, with her purchase volume at $2.82 million. In early September, as reported by Finbold, the politician also ramped up her portfolio, adding Nvidia (NASDAQ: NVDA), Palo Alto Networks (NASDAQ: PANW), and cybersecurity giant CrowdStrike (NASDAQ: CRWD).
Interestingly, some of Greene’s purchases have recorded notable losses, with returns in CrowdStrike standing out. On June 24, she opened a new position at $377.93, with the equity now trading at $296, a drop of almost 28%. Overall, she has recorded less-than-stellar returns on her stocks, earning the phrase “Inverse Greene ETF.”
As expected, the politician’s stock market involvement has led to questions regarding conflicts of interest. Ethical questions arise as since the lawmaker invests in industries she may help regulate or oversee, considering she sits on the House Oversight Subcommittee on Cybersecurity, Information Technology, and Government Innovation. However, in Greene’s defense, she has alleged that she is holding the stocks for a friend.
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Curbing Congress stock trading
Due to the potential use of insider information to trade, lawmakers are advancing a bipartisan bill that would ban congressional stock trading. To this end, Oregon Democratic Senator Jeff Merkley, one of the bill’s backers, has alleged that there is a high chance some members are privy to privileged information based on their portfolio returns.
Although the Stop Trading on Congressional Knowledge (STOCK) Act exists, some members continue to violate it. Finbold reported that select politicians repeatedly ignore provisions such as the timelines for reporting a trade and end up receiving a slap on the wrist as punishment.
Therefore, it remains to be seen whether the newly proposed law will be passed and whether lawmakers will adhere to it.
