Seven Lakes Weekly Summary

Hello Seven Lakers,

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

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

This week, the trading activity at Capital Hill was quite minimal with only a few transactions taking place. If you want to receive daily updates, click here

🏦 2/ US Politicians potential insider trading: Rep. Session’s spouse sold before Warner Bros stock dropped

Despite a significant rise in 2023, entertainment stock Warner Bros Discovery (WBD) was recently spotted tumbling

WBD reported that their total earnings for 2023 would be affected by the ongoing Hollywood Strikes; since May 2023, the strikes have been propelled by decreased writers’ wages and the possibility of AI replacing writers

Texan Representative Pete Sessions reported a sale of Warner Bros Discover (WBD) stock during last week

The stock was sold by his spouse and this trade saved losses of nearly 10% 

Prior to Sessions, three other Congress members sold WBD stock earlier this year. If you want to receive daily updates, click here

📄 3/ 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)

The Seven Lakes Research analyst team provides PREMIUM detailed updates from Monday to Friday with all the relevant fact on: 

Click on the button below to start receiving them 👇👇👇👇👇

📄 4/ Interesting stock market stories

STORY #1: Senator Carper is betting against US market

Senator Thomas R. Carper, who represents Delaware in the U.S. Senate and holds positions on key Senate committees, recently attracted attention for his investments in ProShares Short QQQ (PSQ:US), a fund that shorts Nasdaq 100 (i.e. if the Nasdaq 100 goes down, Carper makes money).

Therefore, he is betting that the US market will struggle in the next months

• Carper bought PSQ on July 13 with $30,000

• He divested on August 18, securing profits of more than 6.5%

• On August 23, he purchased PSQ again with $45,000

STORY #2: Dell’s stock price skyrocketing on top of strong results and AI demand

Technology company DELL surged 72% from the beginning of the year, on top of large demand of AI-optimized servers

Dell, indeed, recently reported strong Q2 2023 results

This was due to:

• Revenue grew 8% vs. last year reaching $5.6bn in 2Q

• Dell returned $525 million to shareholders during 2Q through share repurchases and dividends

• Robust demand for its AI server solutions, with a backlog exceeding $2 billion

On the political front, Congressman Ro Khanna sold DELL shares realizing a 72% return from the beginning of the year

STORY #3: Salesforce’s stock goes up as they get positioned for an AI future

Technology company Salesforce benefitted from the AI fever this year

Stock is performing really well:

• Their Q2 revenue was 11% higher vs. last year

• Reported record operating margins (operating/recurring profits as % of revenue)

• They are raising their revenue and profit targets for the next year

• They are positioning themselves as leaders in the AI era

The Q2 outperformance comes after several Congress members were buying Salesforce shares. These include Rep. Ro Khanna, Jonathan Jackson, Daniel Goldman, and Josh Gottheimer.

Most notably, Rep. Goldman spent $100,000 - $250,000 to acquire Salesforce shares on January 31, when they closed at $167.97
Salesforce stock traded near $230 last week: he did ~37% return so far