Skip to content

U.S. politician buys military tech stock amid rising WW3 fears

U.S. politician buys military tech stock amid rising WW3 fears
Paul L.
Stocks

United States Representative Debbie Wasserman Schultz has acquired a stake in ViaSat (NASDAQ: VSAT), a company known for producing military communications equipment.

This purchase comes at a peculiar moment, with accelerated chatter about the possibility of World War Three stemming from the ongoing conflict between Russia and Ukraine. 

Currently, markets have yet to show significant movement in response to escalating geopolitical tensions.

Schultz’s transaction, valued between $1,001 and $15,000, occurred on October 23, 2024, and was publicly disclosed on November 20.

Stock trades by Rep. Debbie Schultz. Source: Congress

This transaction is noteworthy, given the congresswoman’s position on the House Appropriations Subcommittee on Military Construction. 

Her role involves overseeing military infrastructure and investments, raising questions about potential intersections between her legislative duties and personal financial decisions.

Therefore, this prompts speculation about possible insider trading, particularly given that Schultz has recently been involved in other questionable stock trades. 

Receive Signals on SEC-verified Insider Stock Trades

Stocks

This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).

Schultz questionable stock purchases

In August, Schultz made a rare Congress trade when she acquired a stake in Hecla Mining Company (NYSE: HL), which extracts precious metals such as gold and silver. 

Receive Signals on US Congress Members' Stock Trades

Stocks

Stay up-to-date on the trading activity of US Congress members. The signal triggers based on updates from the House disclosure reports, notifying you of their latest stock transactions.

At that time, gold and silver prices were surging amid fears of a potential economic downturn. Following the purchase, HL’s share price experienced a significant surge in valuation

In general, Schultz has been an active stock trader, executing 113 trades totaling approximately $1.75 million. The information technology sector accounts for the largest share of her preferred investments, with 35 trades.

Indeed, most of the trades have accelerated in 2024 after an extended period of hibernation by the Congresswoman. 

VSAT price analysis 

Despite ViaSat’s relevance in defense, its stock has experienced a prolonged decline in recent months despite the escalating geopolitical tensions. Since Schultz’s purchase, the stock has plunged an additional 32%.

In the short term, ViaSat has shown strength in the short term, trading at $7.57 as of press time—a nearly 9% rally in the last 24 hours. Year-to-date, the stock remains down approximately 73%.

VSAT one-day stock price chart. Source: Finbold

According to its Q2 earnings report, these losses come when the company has demonstrated notable progress. During the quarter, ViaSat reduced its net loss to $138 million from $767 million despite a slight revenue dip to $1.12 billion from $1.13 billion. 

At the same time, the defense company reported record contract awards totaling $1.3 billion.

Featured image via Shutterstock 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Paul L.
Stocks

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.