Marjorie Taylor Greene finally nails her Tesla bet after ill-timed trades

United States Representative from Georgia, Marjorie Taylor Greene, ranks among Congress’ most active stock traders in diverse sectors. Still, some of her investments have been in the red, contrasting with colleagues’ portfolios, such as former House Speaker Nancy Pelosi. 

Now, it appears the politician is turning a new leaf, with her investment in electric vehicle manufacturer Tesla (NASDAQ: TSLA) seemingly paying off following a series of recent trades. 

To recap, part of Greene’s 2024 stock buying spree has seen TSLA emerge among favorites, with the politician now benefiting from the equity’s recent rally.  

To put these returns into perspective, since her October 21 trade, when TSLA was valued at $218, Greene has seen her bet gain 23%. The trade disclosures indicate that she purchased between $1,001 and $15,000 TSLA shares. 

The politician is also up 27% on her September 3 Tesla purchase, when the equity was valued at $210. 

Notably, the October transaction was part of a series of trades that also included ASML Holding (NASDAQ: ASML), Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A), Blackstone (NYSE: BX), Caterpillar (NYSE: CAT), and Home Depot (NYSE: HD).

Taylor Greene’s stock losses 

Despite this TSLA success, Greene has seen notable equities in her portfolio yield negative returns due to what can be termed ill-timed trades, such as CrowdStrike  (NASDAQ: CRWD). 

She recorded losses, considering her June purchase came shortly before the global IT outage that led to a capital outflow from CRWD. 

This purchase mainly raised concerns about the possible use of insider information, given that Greene sits on the House Committee on Oversight and Accountability’s Subcommittee on Cybersecurity, Information Technology, and Government Innovation. 

Her bets on semiconductor giants Advanced Micro Devices (NASDAQ: AMD) and Trump Media (NASDAQ: DJT) have also resulted in losses. 

Interestingly, some of these losses occurred despite Greene generally employing a more conservative market approach, using a dollar-cost averaging strategy to build her positions gradually.

This strategy tends to support more stable returns, balancing the risks of overpaying during market highs while potentially capping profits in sustained bull markets.

TSLA share price rallying 

Meanwhile, Tesla has been on a tear since its impressive Q3 2024 earnings, which helped the company overcome the “Robotaxi” disappointment that triggered significant capital outflow. 

The event raised concerns, as Tesla failed to provide a solid roadmap for the products unveiled during its October 10 event, at which the self-driving “Cybercab” was introduced.

Tesla’s stock ended the last trading session at $269.23, marking its highest close since September 2023. This valuation represents a weekly gain of almost 3%, while TSLA is up over 8% year-to-date.

Although the stock has faced bearish sentiment for much of the year due to slowed demand in the EV sector, recent momentum emerged as Tesla reported revenue of $25.18 billion, narrowly missing analysts’ expectations of $25.37 billion but reflecting an 8% year-over-year increase. 

Tesla reported adjusted earnings per share of 72 cents, surpassing the average analyst estimate of 58 cents.

The optimistic outlook around the stock was further supported when CEO Elon Musk projected that vehicle growth would likely reach 20% to 30% next year, citing the introduction of lower-cost models.