U.S. politician just disclosed Tesla stock purchase made before the election

Tesla (NASDAQ: TSLA) has been on a significant upward trajectory recently, trading at $311.18 despite a 5.77% dip yesterday. 

The decline came on the heels of reports that President-elect Donald Trump may seek to eliminate electric vehicle tax credits, a move that could impact demand for Tesla vehicles. Nevertheless, the stock has surged by an impressive 41.72% over the past month, rewarding those who invested before the rally.

One of the beneficiaries of Tesla’s recent climb is Representative Morgan McGarvey, who disclosed a timely Tesla purchase made just days before the election. 

According to filings accessed through Finbold’s Senator and Congress trading alert tool, McGarvey invested between $1,001 and $15,000 in Tesla on October 25, 2024, when shares traded between $232 and $260. 

Since then, Tesla has gained 22%, demonstrating the stock’s post-election momentum and McGarvey’s fortuitous timing. He disclosed his trade on November 13, 2024, nearly three weeks after the purchase.

Marjorie Taylor Greene increases TSLA stock exposure

Representative Marjorie Taylor Greene also increased her Tesla holdings ahead of the election, making several purchases that have paid off handsomely. 

Her filings show an initial investment of up to $15,000 in Tesla on October 21, 2024. Since then, the stock has jumped by 42.19%. Greene demonstrated her confidence in Tesla’s prospects with additional purchases on November 1 and November 7, both of which have appreciated significantly, leaving her comfortably in the green on all recent trades.

These well-timed transactions have attracted attention, especially as Tesla’s stock has been bolstered by post-election optimism and strong performance in the electric vehicle market. 

With influential political figures investing in Tesla, the spotlight remains on the company, as investors closely monitor the potential effects of policy changes under the new administration.