Representative Cleo Fields of Louisiana has been a prolific technology sector investor for well over a year, having traded the equity of some of the biggest names in the industry, including Palantir (NASDAQ: PLTR), Nvidia (NASDAQ: NVDA), and Microsoft (NASDAQ: MSFT).
The Congressman’s best recent purchase, however, appears to be the Micron (NASDAQ: MU) shares bought on February 3.
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Specifically, when fields acquired up to $250,000 worth of MU stock, the equity was changing hands at $419.44, while at press time on May 13, it stands at $803.90.
Thus, Representative Fields saw a 91.67% return with his stake potentially reaching a total value of $479,000.
Representative Cleo Fields made $81,000 in three months on this investment
Notably, the U.S. politician took a somewhat smaller position – worth up to $100,000 – in another top-performing blue-chip technology company on the same day: Advanced Micro Devices (NASDAQ: AMD).
On the day, AMD shares were still trading at a comparatively low price of $242.11 – though they have long shed their previous stock market sluggishness of the initial years of the artificial intelligence (AI) boom.
On the flip side, the semiconductor giant entered an explosive rally in recent weeks and is overall 105.11% up year-to-date (YTD) at $439.27. Additionally, considering AMD stock’s May 13 price is 81.43% higher than its February 3 value, the Congressman’s investment could have risen to $181,000 for a total profit of $81,000.
Why Representative Fields’ AMD and MU stock investments are notable
Elsewhere, while Representative Cleo Fields’ involvement with the House Financial Services Committee, including subcommittees overseeing capital markets, fintech, and AI regulation, may raise questions regarding possible trading on insider information, his activity appears to largely absolve him.
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Indeed, the U.S. politician has, for more than a year, been casting a wide net at the technology sector, and his trades have, in almost equal measure, featured major winners and substantial losers.
The MU and AMD stock bets are especially notable precisely because they represent unusually rapid and large gains for the Louisiana Representative.
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