Josh Gottheimer Is Selling These Three Tech Stocks

Rep. Josh Gottheimer, the U.S. representative for New Jersey's 5th congressional district since 2017, disclosed this week that he has reduced his exposure to the U.S. tech sector.

Congressman Gottheimer sold shares of Google-parent Alphabet (GOOG:US) on two occasions in November. The Congressman, who sits on the House committees for Financial Services and Homeland Security, was selling Alphabet shares on November 02 and 04.

Moreover, the Congressman also cut his exposure to Tesla (TSLA:US) as shares of the electric vehicle (EV) maker continue to slide given increased investor concerns about CEO Elon Musk’s focus on Twitter.

Democrat Gottheimer was selling Tesla shares on November 02 and 09, when the stock price closed at $214.98 and $177.59, respectively. Tesla shares traded further lower in December after Musk disclosed last week he sold more shares of the EV maker in response to his controversial take-private deal for Twitter.

Finally, Rep. Gottheimer was also selling Nvidia shares in November. Unlike Tesla, the timing for this sale wasn’t great given that Nvidia shares traded about 11% higher this week relative to the stock’s closing price on November 08, when the Congressman conducted the sale. 

While Rep. Gottheimer was mostly selling tech stocks, the fillings showed he was buying some other non-tech stocks, including Marriott International (MAR:US), Monster Beverage (MNST:US), and UnitedHealth Group (UNH:US).

Congressman Gottheimer is one of the most active stock market traders in Congress with over 1,200 reported trades in the past 3 years