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Senator nearly doubles their money with super suspicious congressional trades

Senator nearly doubles their money with super suspicious congressional trades

In recent years, U.S. politicians have been drawing increasing interest and criticism over their stock market activities. Indeed, many elected officials have been noted for making either exceptionally well-timed trades or investing in obscure companies operating within the sectors they oversee.

Senator Tina Smith has, apparently, done both in November 2023 when she disclosed two purchases of a fairly small medical company called Artivion (NYSE: AORT) totaling up to $200,000. These trades quickly proved controversial.

Not only did AORT stock jump shortly after the politician purchased the shares, but the company boasted a market cap of only some $500 million at the time. Furthermore, Smith herself sits on the Senate Committees on Health.

At the time of the first trade, November 10, Artivion stock was worth $13.33. At the time of the second, November 16, the company’s shares stood at $14.09.

AORT shares jumped to nearly $18 already by November 24, and Artivion’s price today – after a considerable subsequent increase – stands at $25.65. This means that Senator Smith made up to $93,000 on the first and up to $82,000 on the second, achieving for a total return of 87.5%.

AORT stock 1-year price chart. Source: Google

Smith’s other suspicious congressional trade

Elsewhere, Smith’s other suspicious investment from November 2023 hasn’t performed as well, indicating either that politicians are not – contrary to the doubts of many – operating on insider information or that insider information does not guarantee success.

TCMD stock 1-year price chart. Source: Google

Indeed, the Senator purchased up to $250,000 worth of shares of another relatively small medical company called Tactile Systems (NASDAQ: TCMD). Unlike Artivion, TCMD has been struggling in the stock market and has, in total, risen by only about $1.32 per share since November 8 – the time Smith made the investment.

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