Skip to content

U.S. Rep makes major Nvidia stock trade days before bombshell earnings

U.S. Rep makes major Nvidia stock trade days before bombshell earnings

U.S. politicians are no strangers to stock market success, and few have failed to take advantage of the big tech sector boom that has been ongoing since the pandemic-induced lockdowns and reinvigorated by the artificial intelligence (AI) boom.

The most famous of the congressional traders – and one who found immense success with a 2023 bet on the semiconductor giant Nvidia (NASDAQ: NVDA) – is without a doubt, Representative Nancy Pelosi.

By late February 2024, another Congressman – Michael Guest, a Republican representing Mississippi’s 3rd congressional district – took a page out of the Pelosi book and made a very well-timed investment in the chipmaker Nvidia.

Representative Guest returns 31% on Nvidia investment

According to a Wednesday filing, Michael Guest made a purchase of NVDA shares on February 20, as a brief downturn for the stock was starting at a price of approximately $694.52.

Nvidia’s stock has since surged significantly to the press time of $908.88, meaning that Representative Guest has returned 30.86% in three weeks – approximately $215 per share bought.

What makes the trade particularly suspicious is that it was made in a mere three days before Nvidia made a bombshell earnings report that sent its stock back toward the stratosphere. While the timing doesn’t necessarily indicate insider trading, the move is nonetheless worrying as Guest is the Chair of the Congres Ethics Committee.

Admittedly, Guest’s investments – reported at between $1,000 and $15,000 – was relatively small, especially compared to the millions worth of call options acquired by Nancy Pelosi which have already made her an estimated ten times her annual salary.

Nvidia stock price chart

Earlier in March, Nvidia’s stock gave investors and traders a scare as the stock declined approximately 10% within two days, but the semiconductor giant has since mostly recovered and continued its strong 2024 trend. Indeed, year-to-date (YTD), NVDA shares are 88.69% in the green.

NVDA YTD stock price chart. Source: Finbold

In the longer-term, Nvidia’s performance becomes even more impressive as the chipmaker recorded a price increase of 277.71% in the last 52 weeks. The short-term figures a slightly more mixed.

While the latest 30 days of trading saw NVDA stock surge 22.99%, the weekly chart – particularly due to the brief yet severe downturn – is far more modest, with a growth of 0.81%.

Finally, Nvidia was 1.12% in the red at the latest close on Wednesday, March 13, at $908.88 and is a further 0.65% in the red at press time in Thursday’s premarket.

Congress returns up to 240% on stock trades

Much like Nvidia is far from the only well-performing stock in 2024, and Nancy Pelosi is far from the only – and far from the most successful – trader in Congress.

In 2023, for example, New York’s 26th congressional district representative – Democrat Brian Higgins – recorded staggering returns amounting to 238.9%, while this year’s most successful portfolio – so far – belongs to Dan Mouser and the trading bot that mimics his trades returned nearly 120% by March 5.

Buy stocks now with eToro – trusted and advanced investment platform

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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

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.