Rep. Kathy Manning keeps making big trades, and other Congressmembers join as well

Last week, we found out that Representative Kathy Manning has kept up her active trading spree in 2024, and that several other politicians have been buying up energy stocks. 

Here’s an overview of all of the recent Congressional trading activity, and some interesting developments within the other alternative datasets we scrape and publish:

LAST WEEK’S CONGRESSIONAL TRADES 

Insights from our Congress Trading Dashboard

• Representative Kathy E. Manning filed 51 security purchases across multiple sectors. These purchases include Citizens Financial Group (CFG), Costco (COST), and Microsoft (MSFT). Manning also filed 42 security sales including multiple private hedge funds, Apple (AAPL), and Starbucks (SBUX). Mannings sits on the Committee on Foreign Affairs.

• Representative William Keating filed 4 security purchases including Palo Alto Networks (PANW) and one sale of an AT&T note. Keating sits on the Committees on Foreign Affairs and Armed Services. 

• Representative Virginia Foxx filed 8 security purchases, many of which were across the energy sector like Energy Transfer (ET) and Duke Energy (DUK). She also filed 3 sales of securities like Cross Timbers (CRT). Foxx sits on the Committee on Oversight and Government Reform. 

• Representative Michael Burgess filed a sale of Valero Energy Company (VLO). Burgess sits on the Committee on Energy and Commerce. 

• Representative John James filed purchases of Affirm Holdings (AFRM), International Business Machines Corp (IBM), and Bitcoin. James sits on the Subcommittee on Transportation and Infrastructure. 

• Senator Dan Sullivan filed a sale of RPM International (RPM). Sullivan sits on the Committee on Environment and Public Works and the Subcommittee on Chemical Safety. 

To see more details about their trades, and how they’ve performed since, check out our Congress Trading Dashboard. 

Quiver Strategies

Insights from Quiver Strategies.

In the last 30 days, several of our strategies that track individual traders and their families have done particularly well. 

• The Sheldon Whitehouse strategy is up 10.69%

• The Donald Beyer strategy is up 5.65%

• The Josh Gottenheimer strategy is up 3.18%

• The Nancy Pelosi strategy is up 9.28%

To see a full list of Quiver Strategies and implement them into your portfolio, check out Quiver Premium. 

ADAM NEUMANN'S SURPRISING RETURN: A BID TO RESCUE WEWORK FROM BANKRUPTCY

Insights from the Quiver News Feed

In an unexpected twist to the ongoing saga of WeWork, co-founder Adam Neumann, alongside capital providers including Dan Loeb’s Third Point, has emerged as a potential savior for the beleaguered coworking giant. According to a recent revelation by Bloomberg News, Neumann and Third Point have expressed interest in acquiring WeWork, aiming to pull the company out of bankruptcy. This development signals a remarkable turnaround for Neumann, who had a dramatic exit from the company he helped to create.

Market Overview:

• WeWork, once a darling of the startup world, faced a dramatic fall from grace, culminating in a bankruptcy filing.

• The proposed bankruptcy plan would transfer ownership to senior debt holders, sidelining third-lien noteholders and unsecured creditors.

• Neumann and Third Point's potential bid could reshuffle the deck, offering a new lifeline to the company.

Continued on our News Feed.