This little-known stock skyrockets after unusual U.S. politician trade
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A stock rarely traded by United States politicians is experiencing massive short-term gains after a Congress member made a bet on the company. Following months of trading inactivity, Representative Debbie Wasserman Schultz from Florida purchased shares in Hecla Mining Company (NYSE: HL), a gold and silver mining firm. Since the August 9 transaction, HL has rallied by 29%. At the time of the trade, the stock was valued at $5.04 and closed at $6.51 on September 12. HL six-months stock price chart. Source: Finbold The purchase and the significant gains could raise questions about the potential use of insider information, given that HL has generally maintained a low profile among politicians. Schultz’s Environment, Manufacturing, and Critical Minerals Subcommittee membership further fuels suspicion. New Notable Politician Trade Alert ✍️ Rep. Debbie Schultz just bought shares in Hecla Mining $HL Why is this notable? Three reasons 1. She was the second best political trader in 2022, per Unusual Whales2. This is her first new buy since January3. She just happens to sit on… pic.twitter.com/3YgvLd2Fvn — Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) September 10, 2024 Meanwhile, apart from her purchase of the mining equity, Schultz’s other trading activities have largely focused on the technology sector. She has made over 100 trades, totaling about $1.71 million in volume. US Congress Buy/Sell Signal Stocks Stay up-to-date on the trading activity of US Congress members. This signal triggers based on SEC updates on all the trades that are made by US Congress members. Enable signal Why HL is rallying HL’s surge could be attributed to market conditions, particularly its focus on mining precious metals. For example, silver prices and global demand have increased in recent months, raising investor interest in companies involved in extraction. At the same time, amid prevailing fears of a possible recession, the…
Filed under: News - @ September 13, 2024 11:21 am