Rep. Khanna Buys In on GEV Days After Market Debut

Hello,

below a summary of relevant events happened in the stock market in the last week

📈 1/ Stocks and sectors bought by US politicians last week

This week, the trading activity at Capitol Hill was substantial, with just 458 transactions taking place

Capital Markets and Hotels, Restaurants & Leisure were the most invested sectors

If you want to receive daily updates on politicians trades, click here

🏦 2/ US Politicians potential insider trading: Rep. Khanna Buys In on GEV Days After Market Debut

Ro Khanna is best known for his educational and tech advocacy. In late 2023, Rep. Ro Khanna brought forward his 5-point reform plan for Congress to follow. The motive for this plan was to restore the US citizens’ decaying trust in Congress. Two points in this plan were to ban companies from lobbying to Congress and ban Congress from trading in stocks relevant to their committees or causes.

The Representative is himself very transparent with his trades. Seated on the House’s Armed Services Committee and the Oversight Committee, he recently filed a disclosure featuring a whopping 390 trades. Among these, there was listed a purchase of GE Vernova shares under his child’s name.

 The stock is up by 33.66% since Khanna’s purchase. GE Vernova is an energy equipment manufacturer. The company was founded just three days before Khanna’s purchase - On April 2, 2024 when General Electric decided to merge and spin-off its energy divisions, namely GE Power, GE Renewable Energy, GE Digital, and GE Energy Financial Services.

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How to be notified when politicians buy / sell stocks

As seen before, some suspicious trades were made by Congress Members and their relatives

However, the GOOD NEWS is that their moves can be copied (politicians need to disclose their stock positions)

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📄 3/ Interesting stock market stories

STORY #1:  Boeing Under Scrutiny Amid Whistleblower Testimonies and Regulatory Concerns

Boeing (BA:US), a prominent American multinational corporation known for its aircraft manufacturing, is currently facing significant scrutiny over safety concerns. Recent events, including whistleblowers' testimonies in Senate hearings, have highlighted a pattern of safety issues within the company. Whistleblowers have alleged instances of cutting corners, ignoring problems, and even threatening employees who raise concerns. Incidents like a door plug blowing out mid-flight have added to ongoing worries about Boeing's safety practices.

 The hearings shed light on discrepancies between Boeing's management assertions and the experiences of its employees. Whistleblowers have detailed instances of defective parts, assembly problems, and a perceived lack of emphasis on safety. They have accused Boeing of prioritizing profits over safety, potentially contributing to tragic accidents such as the 737 MAX crashes.

 Criticism has also been directed at the Federal Aviation Administration (FAA) for purportedly inadequate oversight of Boeing. Some whistleblowers have alleged a cover-up, claiming Boeing withheld crucial records from regulators.

Concurrently, in the realm of congressional trading, two House members, Rep. Bill Keating and Rep. Blake Moore, have both divested their holdings in the aerospace company Boeing this year.

If you want to be notified when insiders trade stock, we send daily email alerts here 

STORY #2: Hershey’s Sweet Q1 Report Coincides With Lawmaker’s Purchase

The Hershey Co (HSY:US) outperformed predictions from financial analysts on its sales and profit in the first quarter. This success was fueled by increased prices for its products and consistent consumer demand for chocolates and candy.

 The chocolate and candy maker disclosed first-quarter diluted earnings per share (EPS) of $3.89, marking a 36.5% increase year-on-year. Sales of confectionery items in North America experienced a substantial rise of 10.4%, while sales of salty snacks in the same region saw a more modest increase of 1.9%. Internationally, sales also grew by 1.8%.

Coinciding with this was the purchase of HSY’s shares by Congresswoman, Marjorie Taylor Greene. The Texan Representative bought HSY shares along with 17 other stocks and ETFs as per a trade disclosure released on May 2; a day before Hershey’s earnings announcement. In total, she bought up to 80 shares valued between $1,001 and $15,000.

Other U.S. politicians who recently traded in HSY included Rep. Ro Khanna and Rep. Dan Newhouse who stocked up on Mar 25 and Apr 10 respectively. Rep. Rick Larsen sold HSY shares on Jan 9, as per his first filing disclosed in 2024.

 HSY stock closed +6.32% higher in the week ending prior to the earnings announcement.

If you want to be notified when politicians trade stock, we send daily email alerts here 

STORY #3:  A Summary of the Main Trades Placed by Politicians and Insiders this Week

Senator Tommy Tuberville filed 8 security purchases, including small biotech company Humacyte (HUMA) which has been testing to repair injuries in Ukraine. He also filed 11 security sales including Apple (AAPL), Adobe (ADBE), and Texas Instruments (TXN). Tuberville sits on the Committee on Armed Services.

 Senator Angus S. King Jr. filed a purchase of Verizon (VZ) stock. He sits on the Committee on Energy and Natural Resources.

 Representative Eleanor Holmes Norton filed a sale of Berkshire Hathaway (BRK.B). Norton sits on the Committee on Transportation and Infrastructure.

 Representative Barry Moore filed a purchase of Bitcoin. Moore sits on the House Commodities Subcommittee, which oversees crypto regulation.

 Senator Tina Smith filed sales of Insulet Corporation (PODD) and Nextera Energy (NEE). Smith sits on the Committee on Health.

 Representative Robert Latta filed a purchase of Farmers and Merchants Bancorp (FMAO). Latta sits on the Committee on Energy and Commerce.

If you want to be notified when politicians trade stock, we send daily email alerts here 

📄 4/ Political Trading Bot

As you may remember, we have a trading bot that buys the same stocks as politicians

The bot is offered by the SEC registered broker QB, which will perform the trades. We will just provide them with the necessary data to execute

This means that every time politicians buy sizable amount of stocks, the bot buys those stocks as well

If you want to learn more about how to get access to the Political Trading Bot, click on the video below.

We assessed its performance, and it has been delivering solid results so far.

• We launched in May 2022 and the performance was +24% return

• Performance since April 2020 was +237% return