Politician cashes in $2 million in stocks while sitting in 4 House Committees
The post Politician cashes in $2 million in stocks while sitting in 4 House Committees appeared on BitcoinEthereumNews.com.
Although stock trades by American politicians have drawn scrutiny, it has not stopped many of them, even as they sit in governmental bodies, participating in decision-making that may have an influence on the price of relevant stocks, with one notable example including Representative Michael McCaul. As it happens, McCaul has just filed more than $2 million in stock trades, but the most interesting part is that his every single trade was a sell, according to the observations by the Nancy Pelosi Stock Tracker, the platform following politician stock trades, in an X post on August 19. Holy Politician Sell Alert 🚨 Rep Mike McCaul (R) just filed over $2M of stock trades The notable part? Every single trade was a sell. Buys: $0Sells: ~$2,030,000 — Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) August 19, 2024 Which stocks has McCaul sold? Specifically, his largest reported sales include stocks of payment card services corporation Visa (NYSE: V), investment banking and finance giant Goldman Sachs (NYSE: GS), entertainment behemoth Warner Bros. (NASDAQ: WBD), and Taiwan Semiconductor Manufacturing (NYSE: TSM). Notably, McCaul currently sits on four House Committees – including as the Chair of the House Foreign Affairs Committee and Chair Emeritus on Homeland Security – raising questions over whether he might have inside information regarding the government’s future policies and important developments. TMSC stock sale = insider semiconductor knowledge? Particularly notable is his role as the head of the China Task Force in the Foreign Affairs Committee, which suggests the possibility of insider knowledge relevant to TSM stocks, given the strained relations between Taiwan and China and the United States policy on the matter. Furthermore, McCaul is the founder of the Congressional High Tech Caucus and co-chairs the Artificial Intelligence Caucus, suggesting involvement in the semiconductor arena, and he previously filed a substantial investment…
Filed under: News - @ August 20, 2024 11:25 am