Market Commentary

Debbie Dingell Sells More Big Tech Stocks

Rahul Joshua
6 Feb 2024 · 1 minute read

Congresswoman Debbie Dingell, the U.S. representative for Michigan's 12th congressional district since 2015, disclosed that she sold shares of two companies in December.

The Congresswoman was selling Stanley Black & Decker (SWK:US) shares on December 19, when the stock closed at $74.79. More importantly, Rep. Dingell sold $15,000 - $50,000 worth of Meta Platforms (META:US) shares on the same day when shares closed at $114.48, which is nearly 10% below this week’s price.

Meta Platforms shares have been on a steady rise since November when they printed a multi-year low. Shares crashed in late October following yet another disappointing earnings results. However, Meta stock has managed to recover and trade over 40% higher since the 2022 low.

This is not the first time that Rep. Dingell sold Big Tech stocks. Earlier in 2022, the Congresswoman sold Apple (AAPL:US) shares. While the Meta Platforms stock sale wasn’t timed perfectly, the Congresswoman did a much better job in April last year as it sold Apple stock when the closing price was $165.07 per share. She was also selling Apple stock in December 2021.

For comparison purposes, Apple stock price trades around the $125 handle this week.

Rep. Dingell is not known as a very active stock market trader. She reported only seven trades last year.