TESLA INC’s (TSLA: US) all-time market high in 2021’s first trading sessions of the year has been etched in history. This received lots of social media attention at the time as well as considerable interest from investors.
Interestingly, only a few weeks prior to this event, four US politicians purchased $TSLA stock.
With some hefty figures behind these investments, these trades took place between December 18 and 22, 2020:
- Nancy Pelosi’s husband purchased 25 call options for a price ranging from $500K to $1M
- Rohit Khanna’s spouse bought stocks ranging between 144 and 359 in quantity, starting with a value at $100K and all the way up to $250K
- Gilbert Ray Cisneros Jr. spent $50K to $100K on shares that numbered anywhere from 79 to 156
- Dean Benson Phillips bought 72-143 shares, with their estimated worth lying between $50K and $100. He went on to buy additional shares on January 5, 2021.
At the beginning of this year, shares of the Elon Musk-led company rode high in the stock market, reaching as high as $880.80 per share in January 2021.
Back then, selling these shares could have earned their owners a profit of around ranging between 25% and 45%.
The next few months saw a dip in the price before this reversed again in August 2021. It can be assumed that this rollercoaster will be continuing for a while.
Democrats Who Traded
All four politicians, all of them Democrats, purchased stock less than a month before the prices began to rise. Additionally, these trades were reported within the 40-day mark but all after $TSLA prices began the first lap of their increase.
With the exception of Phillips, who is Minnesota’s Representative, all the politicians are from California, the Golden State. As it turns out, the Golden State is also the location of Tesla’s headquarters in Palo Alto and where the company’s first factory since 2010 is
Also noteworthy is the fact that all of these congressmen have a great deal of trading experience across various sectors. The title of the most experienced would likely go to the family of Representative Khanna, whose focus lies in sectors ranging from Financials and Consumer Discretionary to Health Care and Real Estate
So far, all four congressmen have been holding their shares and continued to do so through the stock’s below-satisfactory performance in August 2021.