Politician Buying

Meet the Politicians Seated in $TSLA’s Hall of Fame

Red Driverless Tesla running on a road besides a huge waterbody with a few cliff peaks in the background on a hazy day

Previously, the 2iQ team reported four politicians who purchased shares from Tesla Inc. (NASDAQ: TSLA) in December 2020, barely a month before the stock’s bullish run in January 2021 where it reached its peak price. 

But who knew back then that Tesla was only starting its bull run. As the year is coming to an end, Tesla is raging once more. When investors are flocking about the company, one can only imagine the commotion among US Politicians. 

The Politicians

Since 2018, 26 politicians have traded in $TSLA stock. Ten of these, all Representatives, purchased the electric car shares during 2021:

  • In January, Dean B. Phillips paid $735.11 per 2-20 shares. He had previously bought it in December 2020, and so far is still holding. Marjorie Greene also added $TSLA to her holdings collection, for $846.64 per unit.
  • February saw two purchases made by Democrat Marie Newman from Illinois. Newman bought $TSLA on numerous occasions throughout the year at varying prices. 
  • New York Republican Thomas Suozzi, bought at $686.44 in March 2021. He later sold $TSLA at a lower rate of $671 in April 2021. Other politicians who traded in March as well were Ashley E. Hinson and Elaine G. Luria, who bought at $621.44 and $670 respectively. Newman made another purchase but at a much lower price.
  • James Hill, Michael Garcia, and Marie Newman bought at prices ranging from $684 to $715; all in April. While Garcia later sold in October 2021 and fetched profits, Hill on the other hand is still holding onto his lone transaction.
  • The only politician who bought stock options was Republican Blake Moore from Utah who bought and sold on the same day in August.
  • Rohit Khanna made several purchases in August and September 2021 at prices going from $665 to $778. His purchases were the last of any politician before TSLA shot up in late October.

Among these politicians, Marie Newman and Rohit Khanna were the most frequent traders. Nearly all of the ten are grabbing onto $TSLA stock despite increasing price rises. The average price at which the stock was acquired was around $729. In contrast, the peak share price was $1,229.91 on November 5, 2021. 

Tesla price chart for the last year, showing politician's buys and sells in the form of bar charts

Putting both these into perspective, this price increase could have fetched the above politicians profits of nearly 69%. Certainly, not a poor investment, but only time will tell how far up the ladder Tesla intends to climb. 

The Stock

At present, the electric car company has been gaining another reputation for being used like a throwball by the company’s Founder and CEO, Elon Musk. In a Twitter poll in November, Musk had his followers decide the stock’s fate by asking their opinion on selling the shares. He later sold nearly $4.5 Billion worth of shares, but a Tax bill earlier this year was said to be the main reason behind his sale. Of course, this unorthodox move by Musk raised eyebrows. 

Other present and former Insiders at Tesla too have filed to sell their shares; the list included Musk’s brother, Kimbal Musk. 

The Yesterday and The Tomorrow

Previously, a report by the CapitolTrades team divulged four politicians who bought $TSLA before January 2021. These included another star player in the world of stock trading: Nancy Pelosi, who is still sitting on 25 call options waiting to be exercised

It may be speculated that the above politicians followed through the previous four’s examples and became owners of $TSLA stock. Another news that could put these trades under scrutiny is the fact that since the beginning of 2021, President Biden has been promoting the use of electric vehicles. While this is the first in many of his steps for a more environmentally-friendly world, it means a whole different thing for the stock market

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