Trump Weighs Ending EV Tax Credit, Considers Elon Musk as Adviser

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 438 transactions taking place

Software & Health Care were the most invested sectors

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

🏦 2/ US Politicians potential insider trading: Moskowitz is back on our radar with a bullish purchase of SHW

In his recent filing, Rep. Jared Moskowitz disclosed purchasing shares of The Sherwin-Williams Co (SHW).

On July 5, 2024, the Florida-based Democrat bought between $1,001 and $15,000 worth of SHW shares. This seemingly minimal trade was followed by a notable 21.06% price surge in the specialty chemicals stocks. Additionally, Moskowitz made a bullish investment in Southern Co on the same day, with the stock rising by 12.21% since the purchase.

Sherwin-Williams Company, headquartered in Cleveland, Ohio, specializes in manufacturing, distributing, and selling paints, coatings, and related products. The company saw an impressive 32.38% increase in the past year, reaching an all-time high on August 21, 2024, closing at $357.97. Despite modest quarterly results, Sherwin-Williams maintains its strong reputation as a leading manufacturer of paint and coatings in the US.

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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)

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

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📄 3/ Interesting stock market stories

STORY #1:  A Deep Dive into One of Capitol Hill's Most Active Stock Traders

The world of stock trading is dynamic, and when individuals with insider knowledge make significant trades, it draws considerable attention. One such individual is Congressman Josh Gottheimer, who has represented New Jersey’s Fifth Congressional District since 2017. Gottheimer's district covers parts of Bergen, Passaic, and Sussex counties, but his influence extends far beyond his constituency. Serving on the House Committee on Financial Services and the Permanent Select Committee on Intelligence, he manages an impressive portfolio valued at $228.22 million.

Over the past three years, Congressman Gottheimer has filed 38 disclosures, reporting an extraordinary 1,451 trades across 306 different issuers. His top picks include major industry players like Microsoft Corp, Apple Inc., and Alphabet Inc., with most of these transactions reported under a joint account. His investment approach has consistently demonstrated an exceptional ability to secure gains and minimize losses, underscoring his sharp financial acumen.

Gottheimer's strategic trades have earned him repeated recognition as a top trader on Capitol Hill. Just last week, he made notable investments of up to $15,000 in AMBEV SA, a leading brewing company, and Northrop Grumman Corporation, a defense giant, both of which are experiencing a surge of over 15%. Simultaneously, he strategically divested from Airbnb, Inc. and Helen of Troy Limited, avoiding potential losses of around 20% each.

Before his congressional career, Gottheimer served as General Manager for Corporate Strategy at Microsoft, where he played a pivotal role in the company's expansion into cloud computing, e-commerce, and privacy, which likely informs his exceptional trading strategies

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

STORY #2: Trump Weighs Ending EV Tax Credit, Considers Elon Musk as Adviser

Donald Trump, the Republican presidential candidate, has indicated he may end the $7,500 tax credit for electric vehicle (EV) purchases if elected. Speaking in Pennsylvania, Trump expressed skepticism about the effectiveness of such tax incentives, which could significantly impact Tesla Inc. Despite this, Trump praised Tesla and SpaceX CEO Elon Musk, calling him a "brilliant guy" and hinting at a possible role for Musk in his administration.

Tesla continues to dominate the EV market, producing approximately 411,000 vehicles and delivering around 444,000 in Q2 2024. The company also set a record with 9.4 GWh of energy storage deployment. As Tesla prepares to announce its Q2 financial results on July 23, 2024, Trump's potential policy shift could influence its future.

In a related congressional move, Representative Josh Gottheimer sold Tesla shares valued between $1,000 and $15,000 in July 2024, potentially reflecting concerns about the company's future amid these evolving political dynamics.

Trump's stance on the EV tax credit and his admiration for Musk are part of a broader debate over the future of the U.S. automotive industry, with potential implications for EV adoption and manufacturing.

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

• Representative Nancy Pelosi might have done it again. (PANW) stock has now risen 38% since she bought up to $250k in 1/17/25 $200 Call options in late February. She perfectly timed the dip with her second options purchase this year. Trade up on Quiver website.

• Representative Scott Franklin just disclosed a purchase of up to $115k of General Dynamics (GD) stock. He also sits on the Appropriation Subcommittee on Military Construction

• We recently reported on a purchase of Lockheed Martin (LMT) stock by Representative Jared Moskowitz. It has now risen 20% since the trade. He also sits on the House Committee on Foreign Affairs.

• Representative Josh Gottheimer just disclosed a purchase of Northrop Grumman stock, (NOC). Northrop just raised profit forecasts, amid increased global defense spending. Gottheimer sits on the House Intelligence Committee.

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