U.S. politician offloads Canadian company stock amid trade tensions
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United States Representative from North Carolina, Virginia Foxx, has disclosed the sale of up to $100,000 in stock from Pembina Pipeline Corporation (NYSE: PBA). The offloading of her stake in the Canadian energy sector giant coincides with what appears to be a buildup of strain in trade relations between the United States and its northern neighbor amid key political developments in both countries. Receive Signals on US Congress Members’ Stock Trades Stocks Stay up-to-date on the trading activity of US Congress members. The signal triggers based on updates from the House disclosure reports, notifying you of their latest stock transactions. Enable signal Indeed, the politician first acquired a stake in the company in October 2017, investing between $1,001 to $15,000. Since her purchase, PBA has experienced a rollercoaster ride, gaining about 11% over the period. Since her PBA share sale in early December 2024, the equity has dropped by over 3%. As of press time, PBA was trading at $36.09, having rallied about 9% over the past year. PBA one-year stock price chart. Source: Finbold Besides selling her holding in Pembina, recent filings indicate that at the end of 2024, the lawmaker’s other Congress trades also included snapping up a stake in biotech firm AbbVie (NYSE: ABBV) and American Electric Power Company (NYSE: AEP), among others. Impact of U.S.-Canada tensions Her disclosure of the sale comes when incoming President Donald Trump has reignited discussions about Canada potentially joining the United States as the 51st state. Trump’s remarks, which include promises of significant tax reductions and enhanced military security for Canada, have stirred both support and controversy. This proposal has been met with skepticism and humor in equal measure, viewed by some as part of Trump’s provocative style of diplomacy, as it remains politically unfeasible. The situation is further complicated by…
Filed under: News - @ January 8, 2025 5:24 pm