Market Commentary

Congressman Ro Khanna Is Firmly Bullish on These Two Businesses

Rahul Joshua14 Sept 2022 · 2 minutes read

Congressman Ro Khanna continues to be one of the more active members of the House as far as trading in the stock market is concerned. Khanna, the U.S. representative from California's 17th congressional district since 2017, disclosed he made about 360 trades in August, including some in higher values.

For instance, Mr. Khanna sold between $50,000 to $100,000 worth of AT&T (T: US) shares on August 23, when the stock closed at $18.06. On the same day, the Congressman bought shares of AT&T’s rival Verizon Communications (VZ: US) for a price ranging from $50,000 to $100,000.

Elsewhere, Mr. Khanna also sold shares of Facebook-owner Meta Platforms (META: US) on the same day; META’s closing price that day was $161.11. Similarly, the Congressman sold $50,000 to $100,000 worth of Class B shares of Warren Buffett-controlled Berkshire Hathaway (BRK/B: US)

However, the real highlight is that Congressman Khanna has made some big bets on two companies - The Toronto-Dominion Bank (TD: US) and Azurite LLC.

Mr. Khanna bought shares of a Toronto-based bank in three different trades on August 19, all worth between $250,000 and $500,000. Similarly, the Congressman invested hundreds of thousands of dollars in private business Azurite LLC on August 22. According to the company’s Facebook page, Azurite LLC offers customized resources for HR legal compliance and organization.

A member of House Committees on Agriculture; Armed Services; and Oversight and Reform, Khanna is known for trading bigger-than-usual sizes. He made 35 trades of a minimum $100,000 worth in 2022 alone. Congressman’s most traded stocks include AT&T (T: US), Meta Platforms (META: US) , and Alphabet Inc (GOOGL: US), as well as the U.S. benchmark stock market index S&P 500.