Nvidia Stock is Up Sharply After Gottheimer’s Last Trade
Congressman Josh Gottheimer, the U.S. representative for New Jersey's 5th congressional district since 2017, disclosed he made 30 new trades in October, further solidifying himself as one of the most active Congress stock market traders.
As usual, Congressman Gottheimer’s trades were mostly in smaller sizes as he continues to mostly trade shares of companies in the IT sector. Some of the most notable trades include the sale of Big Tech shares, including Apple (AAPL:US), Alphabet (GOOG:US), Meta Platforms (META:US), Tesla Inc (TSLA:US) and Microsoft Corp (MSFT:US).
Microsoft is by far Gottheimer’s favorite stock for trading with over 100 trades disclosed in the past three years. The Congressman reported he sold shares of Microsoft on two occasions in the second half of October, although at levels that are lower than the current share price of the tech giant.
Interestingly, Democrat Gottheimer invested in Nvidia (NVDA:US) on October 17 when NVDA price closed at $118.88. Nvidia stock price trades about 37% higher today, meaning that Congressman Gottheimer’s timing was extremely precise.
Nvidia stock initially hit a 2-year low in mid-October to almost completely wipe off all post-Covid gains. Shares then sharply rebounded on the improving risk sentiment to now trade above $160 a share.
Gottheimer often trades Nvidia shares, although at a much lower volume than, for instance, Microsoft shares. The Congressman, who sits on the committees for Financial Services and Homeland Security, also often trades shares of Apple, Alphabet, and Tesla.
