Rep. Marjorie Taylor Greene (R-Ga.)’s investment in Palantir has seen an impressive surge of 142% since April.
What Happened: Greene, who is a member of the House Homeland Security Committee, acquired shares in Palantir PLTR just days before Immigration and Customs Enforcement (ICE) granted the company a $30 million contract.
Greene has clarified that her portfolio is managed by her financial adviser and she was not privy to the trades until they were reported.
Quiver Quantitative, a platform that monitors the stock market activities of politicians, highlighted that Palantir’s stock has risen by 142% from its position on April 8, which is the date when Greene made her purchase.
Greene also invested in additional Palantir stock on July 15, which has yielded a substantial profit.
As per financial news outlet Benzinga, Greene’s portfolio was ranked 23rd in performance among Congressional members in the previous year, generating a return of 30.2% on stock transactions.
Greene has credited her success to her financial adviser and has brushed off criticism as “laughable”.
Why It Matters: The significant rise in Palantir’s stock value following Greene’s investment raises questions about the timing of her purchase. The fact that the surge came just days before ICE awarded Palantir a hefty contract is noteworthy.
However, Greene has maintained that she was not aware of the trades until they were reported, attributing her investment decisions to her financial adviser.
This incident underscores the potential for conflicts of interest in the stock market activities of politicians, a topic that has been a subject of debate in recent times.
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Great Job Bibhu Pattnaik & the Team @ Benzinga – Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals Source link for sharing this story.
