Abstract:
A Democratic congressman’s trading timing happened to be on the favorable side of the Nvidia controversy.
Data from a platform that tracks stock trading among members of Congress shows that Rep. Ro Kanner, D-Calif., and his spouse reduced their holdings of Nvidia shares when the stock price was near its peak.
According to Capitol Trades transaction records, Kanner’s spouse completed two sales on September 4 and October 7 respectively, with the single transaction amount ranging from US$1,000 to US$15,000. Nvidia's stock price hit a record high on October 6; this week, Nvidia CEO Jensen Huang admitted to extramarital affairs, the company fell into an unprecedented crisis, and the stock price fell sharply.
Kanna is a federal representative from California’s 17th District and has been advocating legislation to prohibit members of Congress from trading individual stocks while in office.
At the beginning and end of May this year, Kanner himself also sold Nvidia shares in two batches, with the single amount also in the range of US$1,000-15,000; Nvidia's stock price hit its second high on May 14. It is worth noting that Kanner also bought Nvidia shares from June to September.
Retail investor sentiment
Even so, Nvidia's retail investor sentiment on the Stocktwits platform rose further in early trading on Thursday, entering the "extremely bullish" range.
A trader left a message: "NVIDIA is serious. NVIDIA's essence has not changed, its earning power has not changed, and its industry reputation has not changed."
"This is just a personal matter of a successful and successful man losing his mind... When the dust settles, NVIDIA will return to its true nature: a top company."
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