WSB users in Washington DC: The top 5 worst recent stock trades by US politicians via /r/wallstreetbets #stocks #wallstreetbets #investing


WSB users in Washington DC: The top 5 worst recent stock trades by US politicians

I’ve been collecting and publishing data on stock trading by US politicians. Last week I shared a post showing some of the best recent trades by US politicians. To satisfy the WallStreetBets loss porn fetish, I also wanted to share a list of some of the worst-time recent moves.

Top 5 worst moves

  1. Purchase of up to $100K worth of short-dated tech calls in early January by Representative James Langevin. Langevin bought an assortment of call options in tickers such as $BABA, $RIVN, $FB, and $SQ. Needless to say, these contracts have not exactly been printing money while tech has been getting slaughtered. You can see the full list of transactions here, along with specifics on the expiries and strikes prices of the various call options.

  2. Purchase of up to $50K in $FB call options with a $340 strike on December 31st by Representative Deborah Ross. While the Jan. 20, 2023 expiry date on these contracts gives Rep. Ross some time for $FB to recover from its historic collapse last week, it was still a spectacularly poorly timed move.

  3. Purchase of $RBLX stock on November 19th by Rep. James Banks. Banks bought Roblox stock on the same day it hit its all-time high price of $141. In the less than three months since then, it has dropped over 50%.

  4. Sale of up to $65K Activision ($ATVI) by Rep. David McKinley, weeks prior to announcement of acquisition by Microsoft. The stock would jump over 30% following the news.

  5. Sale of Cerner ($CERN) by Rep. Peter Welch, weeks prior to announcement of acquisition by Oracle. Similar to the above, $CERN has risen over 20% since Welch’s sale. It seems like some politicians would benefit from a ban on trading, in order to protect them from their own paper-hand behavior.

Submitted February 11, 2022 at 06:45AM by pdwp90
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