Following a trend among U.S. politicians, Representative Josh Gottheimer of New Jersey’s 5th congressional district reported a large number of stock market trades on November 6 – just as the nation was closely following the 2024 presidential election.
The list revealed that the Congressman might be hunting for the next artificial intelligence (AI) and semiconductor stock to explode. Additionally, it would appear that Gottheimer was – at least with his October investments – focused more on the behind-the-curtains giants, than the visible superstars such as Nvidia (NASDAQ: NVDA).
Perhaps the most notable pick the Representative made is the relatively obscure Disco Corporation (OTCMKTS: DSCSY), a Japanese manufacturer of precision cutting tools with a particular focus on laser and dicing saws for the semiconductor industry.
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The company is a market leader in its field and therefore holds a position of similar importance for the ongoing AI boom as firms like Taiwan Semiconductor Manufacturing (NYSE: TSM) and ASML Holding (NASDAQ: AMSL).
Coincidentally. Gottheimer also purchased between $2,002 and $30,000 worth of TSM shares in October, reporting both trades on November 6.
Has Gottheimer’s Disco Corporation stock bet returned a profit
So far, the Representative’s bet on DSCSY stock has paid off. Gottheimer executed two buys of Disco Corporation shares – one on October 25 and the other on October 28 – and both have been reported as worth between $1,001 and $15,000.
At press time on November 8, the shares of the Japanese manufacturer are worth 44,300 JPY (~$290) after a 17.04% rise in the last 30 days.
At the time of the first purchase, DSCSY shares stood at 37,700 JPY (~$247 ), meaning Gottheimer is already up approximately $2,611 on his investment at the upper bound, or $174 at the lower.
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On October 28, the Japanese company’s shares were priced at 39,670 JPY (~$260), indicating the Representative is up between $115 and $1,730 by press time. In total, the Democrat from New Jersey might have made up to $4,341 in total in about two weeks on a $30,000 trade.
Featured image via Shutterstock
Source: https://finbold.com/this-u-s-politician-is-hunting-semiconductor-stocks-before-they-rocket/