Saturday, May 31, 2025
Smart Again
  • Home
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us
No Result
View All Result
Smart Again
  • Home
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us
No Result
View All Result
Smart Again
No Result
View All Result
Home Trending

Greene Bought Market Dip Before Trump Paused Tariffs, Profiting From the Rally

April 14, 2025
in Trending
Reading Time: 4 mins read
0 0
A A
0
Greene Bought Market Dip Before Trump Paused Tariffs, Profiting From the Rally
Share on FacebookShare on Twitter


Representative Marjorie Taylor Greene, Republican of Georgia, disclosed on Monday that she had purchased between tens and hundreds of thousands of dollars worth of stock on April 8 and 9, the day before and the day of President Trump’s announcement that he was pausing a sweeping set of global tariffs, a pivot that sent the stock market soaring out of a sizable slump.

Ms. Greene bought between about $21,000 and $315,000 in stocks on those days. The day before Mr. Trump’s move, she also dumped between $50,000 and $100,0000 in Treasury bills, according to required public disclosures made to the House.

The report came as Democrats in Congress have demanded investigations of whether the president’s whipsawing moves on trade might have been aimed at manipulating the market and giving his allies a lucrative opportunity for insider trading.

Members of Congress are required to report their stock trades within 30 days of making them, though they only have to mark down broad ranges rather than specific dollar amounts. Ms. Greene’s April 8 and 9 trades — 21 each in the range of $1,001 to $15,000 — are some of the first among members of Congress that will be reported over the coming month as lawmakers detail their financial moves around the time the president encouraged people to buy the dip ahead of his pause on tariffs.

“THIS IS A GREAT TIME TO BUY!!!” Mr. Trump wrote on social media the morning of April 9. About four hours later, he said he was pausing most tariffs on every country except China, an announcement that resulted in a massive one-day gains in stocks.

Ms. Greene, one of Mr. Trump’s most loyal allies in the House, appeared to heed the advice. That day, she bought stock in several companies, including Apple, which has since gone up in value by about 5 percent. She also bought stock in other technology companies, as well as energy firms such as Devon Energy Corporation and the pharmaceutical giant Merck & Company, according to her public disclosures.

The day before, she purchased stock in Palantir, whose value has since gone up 19 percent, and in Advanced Micro Devices, Inc., whose stock has since risen 21 percent. She also sold the Treasury bills as government bond yields were rising amid the tariff chaos, (Ms. Greene had previously purchased up to $500,000 in Treasuries before April 2, when Mr. Trump announced his most expansive tariffs to date.)

Ms. Greene, who is the chairwoman of the DOGE subcommittee of the House Oversight Committee, did not respond to a request for comment. When her stock trades were examined in the past, she told The Atlanta-Journal Constitution that she relies on a financial adviser to trade on her behalf and does not have input on which companies are being traded, or when.

Lawmakers in both parties have long championed legislation to ban individual stock trading by members of Congress as a way to appeal to growing populist sentiment among constituents.

The tumult in the stock market caused by Mr. Trump’s erratic moves on tariffs have led Democrats to question who is gaining financially because of it. Ms. Greene is not alone in appearing to have capitalized on the market volatility.

Representative Rob Bresnahan, a Pennsylvania Republican who has emerged as one of the most active stock traders in the freshman class despite saying during his campaign that he wanted to ban congressional stock trading, also appears to have profited from Mr. Trump’s tariffs.

Mr. Bresnahan sold up to $50,000 in Alibaba stock on March 4, the same day Mr. Trump doubled the tariff on Chinese imports to 20 percent. Alibaba is an e-commerce giant with close ties to the Chinese Communist Party. The stock price rose by about 30 percent between Mr. Bresnahan’s initial purchase and his final sale.

A spokeswoman for Mr. Bresnahan said that he relies on a financial adviser to trade stocks for him, and never knows about the trades before they happen or when they occur. The Alibaba trade, she said, was part of a larger strategic stock package. When it was reported in his disclosure, Mr. Bresnahan’s team put in guardrails so that he would not be able to trade that stock again.

While there has been no evidence of insider trading, Democrats have zeroed in on the potential for malfeasance as a way to attack Mr. Trump’s tariff moves and suggest that he and his friends are exploiting decisions that have hurt ordinary people.

“It is unconscionable that as American families are concerned about their financial security during this economic crisis entirely manufactured by the president, insiders may have actively profited from the market volatility and potentially perpetrated financial fraud on the American public,” a group of Democrats led by Senators Adam Schiff of California and Ruben Gallego of Arizona wrote in a letter last week to Paul Atkins, the chairman of the Securities and Exchange Commission.

In the letter, they demanded that Mr. Atkins open an investigation to determine whether Mr. Trump or any “insiders” had engaged in insider trading or other securities laws violations.

Separately, Representative Alexandria Ocasio-Cortez, Democrat of New York, wrote in a fund-raising appeal on April 11 that “any member of Congress who purchased stocks in the last 48 hours should probably disclose that now,” after Nasdaq call volume spiked ahead of Mr. Trump’s announcement. Ms. Ocasio-Cortez has been a longtime proponent of legislation to ban stock trading for members of Congress.



Source link

Tags: Adam BAlexandriaBoughtCustoms (Tariff)DipGallegoGreeneMarjorie Taylor (1974- )marketOcasio-CortezPausedprofitingrallyRuben (1979- )SchiffSecurities and Exchange CommissionStocks and BondsTariffsTrump
Previous Post

Trump Totally Melts Down And Blames Biden For Ukraine War He Failed To End

Next Post

The Republican attempt to steal a state supreme court election, explained

Related Posts

“Well, we’re all going to die”: Joni Ernst dismisses concern over GOP Medicaid cuts
Trending

“Well, we’re all going to die”: Joni Ernst dismisses concern over GOP Medicaid cuts

May 30, 2025
Ron Johnson Takes Wild Shots At Vaccines
Trending

Ron Johnson Takes Wild Shots At Vaccines

May 30, 2025
Jake Tapper Suffers Self-Inflicted Injury As Ratings Take A Beating
Trending

Jake Tapper Suffers Self-Inflicted Injury As Ratings Take A Beating

May 30, 2025
Red state voters approved progressive measures. GOP lawmakers are trying to undermine them
Trending

Red state voters approved progressive measures. GOP lawmakers are trying to undermine them

May 30, 2025
The Supreme Court just gave 500,000 immigrants some truly awful news
Trending

The Supreme Court just gave 500,000 immigrants some truly awful news

May 30, 2025
Fox News Millionaires’ Easy Solution: Raise Retirement Age
Trending

Fox News Millionaires’ Easy Solution: Raise Retirement Age

May 30, 2025
Next Post
The Republican attempt to steal a state supreme court election, explained

The Republican attempt to steal a state supreme court election, explained

Trump to the USA: There is no rule of law

Trump to the USA: There is no rule of law

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
“A huge net positive”: Controversial “Squid Game” character challenges Western representation ideals

“A huge net positive”: Controversial “Squid Game” character challenges Western representation ideals

December 31, 2024
Will the next pope be liberal or conservative? Neither.

Will the next pope be liberal or conservative? Neither.

April 21, 2025
Why the Karen Read retrial might end differently this time

Why the Karen Read retrial might end differently this time

May 3, 2025
What Megyn Kelly gets right — and wrong — about Conclave 

What Megyn Kelly gets right — and wrong — about Conclave 

January 12, 2025
The roots of Donald Trump’s fixation with South Africa

The roots of Donald Trump’s fixation with South Africa

February 15, 2025
Amid chaos, new report reveals 40 percent of DOGE cuts won’t save any money

Amid chaos, new report reveals 40 percent of DOGE cuts won’t save any money

February 25, 2025
“They stole an election”: Former Florida senator found guilty in “ghost candidates” scandal

“They stole an election”: Former Florida senator found guilty in “ghost candidates” scandal

0
The Hawaii senator who faced down racism and ableism—and killed Nazis

The Hawaii senator who faced down racism and ableism—and killed Nazis

0
The murder rate fell at the fastest-ever pace last year—and it’s still falling

The murder rate fell at the fastest-ever pace last year—and it’s still falling

0
Trump used the site of the first assassination attempt to spew falsehoods

Trump used the site of the first assassination attempt to spew falsehoods

0
MAGA church plans to raffle a Trump AR-15 at Second Amendment rally

MAGA church plans to raffle a Trump AR-15 at Second Amendment rally

0
Tens of thousands are dying on the disability wait list

Tens of thousands are dying on the disability wait list

0
Trump Comes To Western Pennsylvania To Tell Steelworkers That He Is Killing Their Jobs By Doubling Tariffs

Trump Comes To Western Pennsylvania To Tell Steelworkers That He Is Killing Their Jobs By Doubling Tariffs

May 30, 2025
Trump And Elon Musk Hold A Disastrous Press Conference

Trump And Elon Musk Hold A Disastrous Press Conference

May 30, 2025
“Well, we’re all going to die”: Joni Ernst dismisses concern over GOP Medicaid cuts

“Well, we’re all going to die”: Joni Ernst dismisses concern over GOP Medicaid cuts

May 30, 2025
The Supreme Court’s latest decision will make it easier to build stuff, good and bad

The Supreme Court’s latest decision will make it easier to build stuff, good and bad

May 30, 2025
Jake Tapper Suffers Self-Inflicted Injury As Ratings Take A Beating

Jake Tapper Suffers Self-Inflicted Injury As Ratings Take A Beating

May 30, 2025
Ron Johnson Takes Wild Shots At Vaccines

Ron Johnson Takes Wild Shots At Vaccines

May 30, 2025
Smart Again

Stay informed with Smart Again, the go-to news source for liberal perspectives and in-depth analysis on politics, social justice, and more. Join us in making news smart again.

CATEGORIES

  • Community
  • Law & Defense
  • Politics
  • Trending
  • Uncategorized
No Result
View All Result

LATEST UPDATES

  • Trump Comes To Western Pennsylvania To Tell Steelworkers That He Is Killing Their Jobs By Doubling Tariffs
  • Trump And Elon Musk Hold A Disastrous Press Conference
  • “Well, we’re all going to die”: Joni Ernst dismisses concern over GOP Medicaid cuts
  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Copyright © 2024 Smart Again.
Smart Again is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us

Copyright © 2024 Smart Again.
Smart Again is not responsible for the content of external sites.

Go to mobile version