Monster Congress insider trading alert as politician buys $480k worth of stocks

Despite growing public scrutiny over the equities trading habits of United States politicians, particularly members of Congress and its upper body, the Senate, some of them continue to do so unobstructed, including one U.S. Representative who has recently filed new stock trades.

As it happens, Democratic House Representative Josh Gottheimer filed 32 stock trades worth close to $480,000 on September 6, which all took place in August, some purchases happening in more than one trading session, according to the filing information retrieved on September 18.

Which stocks Rep. Josh Gottheimer traded?

Specifically, his most notable stock trades include selling up to $30,000 worth of Advanced Micro Devices (NASDAQ: AMD), purchasing up to $30,000 in Coca Cola (NYSE: KO), buying up to $15,000 in Goldman Sachs (NYSE: GS), as well as selling and purchasing up to $50,000 in Microsoft (NASDAQ: MSFT) stock.

In addition, Gottheimer has sold up to $15,000 worth of Tesla (NASDAQ: TSLA) shares, bought up to $15,000 in Starbucks (NASDAQ: SBUX) stock, as well as up to $15,000 in Spotify (NYSE: SPOT), and $15,000 in Apple (NASDAQ: AAPL) shares, among his other stock trades during this period.

As a reminder, Gottheimer’s stock trading practices have drawn attention due to their suspicious success, including the purchase of Agios Pharmaceuticals (NASDAQ: AGIO) shares earlier this year – in January, as well as buying the stock of Fair Isaac Corporation (NYSE: FICO), a credit-scoring service firm, in May.

Indeed, what makes these trades questionable, despite complying with the STOCK Act, is his role in the Committee on Financial Services, including the subcommittees on capital markets, financial technology, and national security, as well as the Permanent Select Committee on Intelligence, making him privy to information not available to other traders.

Other U.S. politicians’ stock trades

Meanwhile, other U.S. politicians have also recently drawn attention with their stock trades, including Senator Tommy Tuberville, who had sold up to $50,000 worth of Apple shares in late August, days before the AAPL stock dropped from $229 to $222, as Finbold reported on September 17.

Notably, the above trade is just a small part of nearly $360,000 worth of stock sales and purchases by the so-called ‘king of inside trades’ after he took a months-long pause in his stock trades following the release of a trading bot mimicking his stock market activity.

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