Senator makes $16K in 2 weeks with suspicious stock trades

While U.S. workers made an average of $1,139 per week in the first quarter (Q1) of 2024 – or about $5,000 per month – per a June Fidelity Investments report, it is not uncommon for politicians to make twice as much within similar time frames from stock market activity alone.

Senator Tina Smith became the latest example of this uncomfortable trend, as one of her most recent suspicious trades earned her approximately $16,000 in just two weeks. 

What makes matters even more shocking is that if the Wednesday pre-market is considered, the figure grows to about $25,000.

Senator Tina Smith’s highly suspicious stock investment

Specifically, as Finbold reported on November 22 based on its Senator Trades Radar, the Democratic-Party-affiliated politician from Minnesota invested up to $100,000 in a relatively obscure company called Tactile Systems Technology (NASDAQ: TCDM) ten days prior.

The stock purchase rang alarm bells because the firm is a small-cap based in Minnesota – the Senator’s state – and specializes in making medical devices. 

Tina Smith sits on the Senate Health Committee, which means she is geographically close to Tactile Systems and directly oversees the sector the firm operates in.

The most recent nail in the coffin that makes the investment appear shady is TCDM shares’ performance since the purchase – Tactile Systems stock is up 26.94% in the last 30 days and 16.38% since the November 12 purchase. 

This figure grows to 25.78% once the Wednesday pre-market and the press time price of $19.81 are taken into account.

Senator Tina Smith’s long and lucrative history with TCDM stock

Furthermore, Senator Smith has long backed Tactile Systems shares, as the original purchase of her currently held TCDM shares occurred on November 8, 2023. 

That particular investment was reported as worth up to $250,000, and the Congresswoman might have made as much as $200,000 on the trade.

At the time, FInbold reported the purchase as highly suspicious due to Smith and the company sharing the state, the Senator’s position in Congress, and the firm’s sector, but also due to the timing. Indeed, Senator Smith bought TCMD shares immediately after a sharp drop and shortly before a substantial rally.

Finally, it is known that Tina Smith sold a significant number of Tactile Systems shares in June 2018 – relatively close to the end of the stock’s original post-initial public offering (IPO) rally – but information on the acquisition of said assets is harder to come by.

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