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  • Portfolio up 23% ~ Rep. Bob Mendez is going to Jail ~ Buddy Carter sold $1 million

Portfolio up 23% ~ Rep. Bob Mendez is going to Jail ~ Buddy Carter sold $1 million

Insider Trading gains, political scandals, and notable stock sales make headlines

Author

Omar Aslai
July 29, 2024 • Estimated Reading Time: 4 minutes

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Portfolio Snapshot (Backtesting Account)

We started testing out our insider trading strategy last month and we’re up a whopping 23%!

  • Started with $10k on a Webull practice account

  • 5 total trades

  • $2,172 in the last month

Currently rewriting our “How to trade insider-setups”, stay tuned for that!

Insider Trading News:

Rep. Buddy Carter sold up to $1 million of $ABCB in the last week. ​

He had an average share price of $58.62

​ $ABCB just posted outstanding earnings,

​ "This quarter we achieved outstanding financial performance, marked by margin expansion, growth in net interest income, and an increase in core deposits, resulting in a PPNR ROA exceeding 2%." ​

- He sold just days before Ameris released their earnings report.

- Ameris’ HQ is based out of his home state of Georgia.

- No other politician has traded this stock this year.

Carter has a history of questionable transactions which makes this one all the more interesting.

Congressional Trading News:

Bob Menedez was using his power to advance Egyptian military interests, interfere in criminal prosecutions, and secure investment from Qatari officials.

Menendez and his wife allegedly received gold bars, hundreds of thousands of dollars in cash, a Mercedes-Benz convertible and other bribes in exchange for his influence.

Prosecutors said the senator accepted more than $600,000 in political contributions, a luxurious hotel suite at the Park Hyatt in Paris, and free rides on a private jet.

Bob Menendez was convicted of 16 counts Including:

  • Bribery

  • Extortion

  • Wire Fraud

  • Obstruction of Justice

  • Acting as a foreign agent

Don’t be like Bob.

Fast News:

CrowdStrike Outage Leads to Estimated Financial Loss of $5.4 Billion

CrowdStrike Outage Leads to Estimated Financial Loss of $5.4 Billion

A recent global IT outage linked to CrowdStrike, a leading cybersecurity company, has resulted in an estimated $5.4 billion in direct financial losses for Fortune 500 companies, according to a report released by cloud insurance firm Parametrix.

cybersecuritynews.com/crowdstrike-outage-loss-5-4-billion

Short seller Andrew Left surrenders on securities fraud charges in LA

Short seller Andrew Left surrenders on securities fraud charges in LA, due in court

A lawyer for Andrew Left predicted that the securities fraud prosecution against the Citron Capital boss will fail for multiple reasons.

www.cnbc.com/2024/07/29/andrew-left-citron-capital-securities-fraud-los-angeles.html

Microsoft to report fiscal Q4 earnings as Wall Street eyes AI revenue and spending

Microsoft to report fiscal Q4 earnings as Wall Street eyes AI revenue and spending

Microsoft will report its fiscal Q4 earnings after the bell on Tuesday as investors and analysts look to see how much the company is making and spending on AI.

finance.yahoo.com/news/microsoft-to-report-fiscal-q4-earnings-as-wall-street-eyes-ai-revenue-and-spending-205805875.html