Which stocks did U.S. politicians purchase this week?

Hello,

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

📈 1/ Stocks bought by US politicians last week

This week, the trading activity at Capitol Hill was substantial, with 163 transactions taking place

Semiconductors & Health Care were the most invested sectors

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🏦 2/ US Politicians potential insider trading: Sheldon Whitehouse Maneuvers Through Losses in SNOW

In a recent filing, Sen. Sheldon Whitehouse reported the sale of Snowflake Inc. (SNOW) shares on August 15, 2024. The Rhode Island Democrat sold between $1,001 and $15,000 worth of SNOW shares, followed by a notable 12.79% drop in the company's stock price.

Additionally, Berkshire Hathaway has divested nearly $1 billion in Snowflake shares, marking its exit from the cloud data warehousing and analytics firm. A recent SEC filing reveals that Warren Buffett's investment company now holds no Snowflake stock.

Snowflake Inc. offers a Data Cloud platform that consolidates data into a single source of truth, enabling businesses to gain insights, leverage AI, build data applications, and share data products.

However, in 2024, Snowflake has faced significant challenges, with its share value dropping over 40% year-to-date. Despite a 30% increase in second-quarter revenue to $868.82 million, the company's net loss widened to $317.77 million (95 cents per share), surpassing analysts' expectations.

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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:  DOJ Intensifies Nvidia Probe Amid Cooling AI Market and Political Stock Moves

The U.S. Department of Justice (DOJ) has intensified its antitrust investigation into Nvidia, issuing a subpoena to scrutinize its dominance in the AI chip market. This move follows earlier inquiries and highlights concerns over whether Nvidia is limiting customer options by discouraging the use of rival AI chips. Nvidia has denied these claims, emphasizing that its success is based on performance and value, and that customers are free to choose their preferred solutions.

The investigation is part of broader scrutiny, with other firms also under review, and complaints from competitors alleging anti-competitive practices. Nvidia faces regulatory inquiries from the U.S., South Korea, the European Union, the UK, and China, reflecting global concerns.

Adding to investor uncertainty, Nvidia recently issued a quarterly forecast that missed expectations, resulting in a significant stock drop. Despite these challenges, Nvidia’s stock remains up 141% this year, driven by optimism in AI.

On the political trading front, Rep. John James, Rep. Marjorie Taylor Greene, and Rep. Jared Moskowitz disclosed Nvidia stock purchases, while Rep. Kathy Manning’s spouse sold up to $80,000 in shares. Paul Pelosi, husband of former Speaker Nancy Pelosi, made two major Nvidia purchases totaling up to $5 million.

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

STORY #2: GM Delays $330 Million Investment in Lithium Americas

General Motors (GM) has delayed a $330 million investment in Lithium Americas until the end of the year. This investment is part of a larger $650 million commitment to support the development of the Thacker Pass lithium project in Nevada, which aims to supply enough lithium for 1 million electric vehicles annually. The second tranche of GM's investment, initially planned for February 2023, has been pushed to December 2024, giving Lithium Americas more time to explore financing options.

The company is also seeking a $2.26 billion loan from the U.S. Energy Department, though this is uncertain due to the potential impact of the November U.S. presidential election. Republican candidate Donald Trump has vowed to end the electric vehicle mandate, which could affect funding for the project.

On the political trading front, Rep. Ro Khanna stands out as the only congressional trader actively selling GM shares, having sold nearly $266,000 worth in 21 trades. However, he recently made two new GM investments, purchasing up to $30,000 on June 14 and July 2, possibly signaling a shift in strategy amid ongoing market uncertainties.

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

• Rep. Marjorie Taylor Greene has faced losses in recent trades, including CrowdStrike (CRWD) down 33%, Dell (DELL) down 15%, and Intel (INTC) down 9%.

• Rep. Mike Collins made multiple trades involving the crypto altcoin Aerodrome, buying up to $50k in July, selling in early August, and repurchasing it the next day.

• Sen. Markwayne Mullin's purchase of Raytheon (RTX) stock, made earlier this year, has surged 71.5% in value.

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📄 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