The U.S. Representative and member of the House Committee on Foreign Affairs, Jonathan Jackson, has disclosed the purchase of Hexcel (NYSE: HXL) stocks. Hexcel is a manufacturer of military aircraft materials.
The trade took place amid significant diplomatic changes involving the United States Foreign Affairs and Niger’s Junta.
In particular, Jackson disclosed on March 19 a trade that occurred on February 16, according to Quiver Capital. The U.S. Representative bought between $15,000 and $50,000 of HXL’s stock and is down 6.11% since.
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This trading activity has raised suspicion due to recent diplomatic developments in Africa and, more specifically, Niger. On that note, Jonathan Jackson is a member of the Subcommittee of Foreign Affairs on Africa, possibly related to these events.
Moreover, Hexcel has a relevant presence on the African continent. The company inaugurated a new plant extension in Morocco one year ago, as per Morocco’s world news report.
The U.S. Foreign Affairs on Africa and Niger military alliance
Interestingly, Jackson made the purchase one month before an unexpected and unwelcomed visit of U.S. authorities in Niger. The visit was led by Assistant Secretary of State for African Affairs Molly Phee and included General Michael Langley, commander of the U.S. Africa Command.
On March 16, Colonel Amadou Abdramane spoke on Niger’s declaring the revoke of the military accord with the United States, as reported by Reuters. The decision prohibited military personnel and civilian staff from the U.S. Department of Defense on its soil. Abdramane said the U.S. delegation did not follow diplomatic protocol.
Notably, Niger has one of the most important US aircraft military bases in the region, for deemed counter-terrorism operations.
Despite the country’s decision, the U.S. Pentagon declared troops must stay in the air bases for now, according to the Air and Space Forces Magazine.
Hexcel stock analysis
In the meantime, Hexcel’s stock experienced significant volatility in the last 30 days, possibly affected by the aforementioned developments. HXL was trading at $74 during Jonathan Jackson’s purchase of $15,000 to $50,000 in the company’s shares.
The stock reached $77.09 on March 7 and suddenly dipped to $71 per share on March 15. Essentially, the losses were registered in the week of the U.S. delegation’s visit to Niger, followed by the accord’s revoke.
HXL now trades at $72.98, still below the U.S. politician’s purchase zone. However, Jackson has yet to disclose his updated position on Hexcel.
HXL daily chart. Source: TradingView (Finbold)
In summary, Jonathan Jackson is a member of the United States Subcommittee of Foreign Affairs on Africa. This secretary has been recently involved with an unwelcomed visit to Niger, which led to the revoke of a military accord. Furthermore, this development directly affects one of the U.S. major air bases in Africa.
In this context, Jackson has recently disclosed a purchase of a military aircraft manufacturer’s stock with a presence in Africa. The investment may have backfired following these unexpected diplomatic events, as HXL stock is down 6.11% since the purchase.
