Congressional stock trading is a hotly debated issue. Politicians holding the highest public offices in the United States are privy to information that the public is not — a fact that constitutes a significant advantage when it comes to investing.
Efforts to curtail this practice have been relatively fruitless. Members of Congress such as Nancy Pelosi, Tommy Tuberville, and Josh Gottheimer have made fortunes for themselves — and continue to invest millions of dollars on an annual basis, with returns that far outpace their constituents.
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That’s not to say that all congressional traders enjoy great success — Marjorie Taylor Greene, the controversial Representative of Georgia’s 14th congressional district. For a time, her trades were so ineffectual that they led to widespread jokes of an ‘inverse Marjorie’ strategy — mirroring the infamous inverse Cramer exchange-traded fund (ETF).
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However, the congresswoman seems to have had a change of luck — beginning with timely Tesla (NASDAQ: TSLA) trades made in September and October, MTG seems to be on a winning streak.
Now, Finbolds ‘U.S. Senator Stock Trading Signals’ alert has highlighted a recently publicized period transaction report revealing that she made a significant round of investments on November 25 — and this time around, the congresswoman is all in on big tech.
Marjorie Taylor Greene’s bullish big tech bet
On the whole, Taylor Greene invested in 17 stocks, as revealed in the official filing made public on November 27. While the trades also encompassed sectors like finance and utilities, the biggest concentration was in tech.
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Per disclosure rules, each of the transactions was valued at between $1,001 and $15,000 — bringing the total value of the trades to between $17,000 and $255,000. Of the 17 trades, 6 were tech plays.
Unsurprisingly, one of the best-performing businesses of the year was on the list. Nvidia (NASDAQ: NVDA) has seen returns of 180.96% on a year-to-date (YTD) basis — and this is the fourth time on record that MTG has invested in the chipmaker. Greene also made her sixth investment into the company’s main rival, Advanced Micro Devices (NASDAQ: AMD).
In addition, the congresswoman also purchased Google (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT) stock. GOOGL shares have seen a 22.48% surge since the beginning of the year — while Microsoft stock has gone up by a more modest 14.05% in the same period of time.
The most interesting detail was that she also invested in two struggling semiconductor stocks — ASML (NASDAQ: ASML), which is down 6.48% YTD, and Lam Research Corporation (NASDAQ: LRCX), whose shares have seen a 4.48% price decrease in the same timeframe.
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