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Congress Trading Weekly: A Congress Member's $27M Bet

...Plus Rep. Gottheimer's 100+ Trades, Rep. Foxx's Day Trading, and more

Stay ahead of the trends: In today’s email, we’re sharing essential market insights and data points to keep you informed in your investment decisions. You are receiving this email because you are signed up for free Insider Alerts.

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Insider Selling in SoundHound AI (SOUN) sounds the Alarm

Recent trends in SoundHound AI (SOUN) have shown a significant amount of insider selling as the share price experienced a notable uptick, climbing over 300% in a short period. This activity suggests that insiders may believe the stock is currently overvalued or that they are taking advantage of the price increase to realize gains.

The Trades:

Insiders are selling up to 45% of their holdings. Such insider sales can often provide external investors with valuable insights into the company's internal sentiment and future expectations, especially at a time the share price has seen such price action to the upside.

Rep. Josh Gottheimer’s Big Bet

Rep. Josh Gottheimer just disclosed buying up to $27,000,000 worth of Microsoft call options.

Why is a politician with an annual salary of $200K buying $27M worth of options?

Worth noting that Gottheimer was the former Head of Strategy at Microsoft.

Very interesting to say the least.

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Insiders Cashing Out

Over the last three months, the market has observed a pronounced trend of heavy insider selling compared to buying across various sectors, with SOUN being a prime example. This pattern is not uncommon and frequently indicates insiders' cautious or bearish outlook on their own companies' stock prices in the near term. While insider buying is often seen as a strong bullish signal, widespread selling can evoke investor skepticism about future stock performance.

Congress Day Traders: Virginia Foxx’s Active Trading

Among the more surprising entries into the arena of active stock trading is Congresswoman Virginia Foxx, who at 80 years old, has been identified as one of the most prolific traders (congrats). At the ripe age of 80, she seems to have found her second wind, not in the halls of Congress, but in the bustling world of day trading. Her trading activity sends a rather amusing message: you're never too old to play the stock market game. This congresswoman's bustling trade ledger might just make you wonder if there's more excitement on the trading floor than on the House floor. It's a reminder that age is just a number, especially when there's stock to be traded!

Congress’ Most Profitable Traders

PREMIUM DATA

In an interesting revelation, a select group of 12 congressional members has notably outperformed the S&P 500 (SPY) over the last six months. This group, as we dub them the "Congress' day traders," has demonstrated a keen insight into market trends, leveraging their positions to secure returns that surpass the broader market's performance. Just how well did these traders perform? Take a look for yourself.

What truly grabs my attention is the exceptionally high success rate of stock selections made by Congress members. It's almost as if they have a magic touch, consistently picking stocks that rise. This consistent success, even if it doesn't always beat the overall market, suggests a pattern where their choices usually end up in the green, rarely taking a hit. Despite not always outdoing the market averages, the fact that most of their investments tend to pay off is intriguing, pointing to a series of well-chosen, albeit not infallible, trades.

However, a special mention goes to Josh Gottheimer, who, despite making over 100 trades in the last 6 months, fell short of beating the SPY's return.

Top Congress Purchases of the Month

Some big trades, congress has been busy!