Congresswoman Susie Lee Was Selling Stocks in November
Rep. Susie Lee, the United States representative for Nevada's 3rd congressional district since 2019, disclosed that she made more than 60 trades at the end of November.
As far as mid-size trades are concerned, the Congresswoman sold between $15,000 - $50,000 worth of shares of Churchill Downs (CHDN:US) and Booz Allen Hamilton (BAH:US). Both shares trade modestly lower relative to their respective closing prices on the day when Rep. Lee was selling.
The Congresswoman was also selling shares of several chipmakers, namely Qorvo (QRVO:US) and Marvell (MRVL:US), as well as shares of the cybersecurity company Palo Alto Network (PANW:US). Marvell stock is down more than 20% since Rep. Lee sold some shares.
Interestingly, while Rep. Lee was selling shares of Cushman & Wakefield (CWK:US) on November 30 when the stock price closed at $11.42, shares now trading over 12% higher. Other stock trades that she was selling in November mostly traded further lower this week, including AdaptHealth (AHCO:US), which is down over 13%, and Entegris (ENTG:US) - down 17%.
Wall Street strategists issued several warnings recently that U.S. equities may move lower in the first quarter of this year to re-test 2022 lows as earnings estimates are far too high for an economy that is on the brink of a recession.
Congressman Lee often trades stocks with Consumer Discretionary, Tech, and Industrials topping the list of most traded sectors.
