A suspicious trade from Susie Lee, U.S. Representative (D) of Nevada’s 3rd congressional district shows her investment in Germany’s arms manufacturer stock. Politicians have an edge over governmental information and policies while lawmakers regulate the stocks they invest in.
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Despite being under the purview of regulations, Lee went ahead and purchased stocks from the German arms manufacturer. She purchased stocks of the German arms manufacturer Rheinmetall AG in 2024. In no surprise, her investment yielded above-average returns as its price surged to the 932 range.
Her investments have more than doubled as she picked the stock in two different transactions worth $1,001 and $15,000. Rheinmetall AG experienced a significant price surge after she took an entry position in the German arms manufacturer stock. The latest filing shows that she purchased the stocks on March 5, 2024, after she disclosed her purchases.
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German Arms Manufacturer Stock: What Does Rheinmetall AG Do?
Rheinmetall AG is the biggest German arms manufacturer and is the fifth largest in Europe. It trades in the Frankfurt Stock Exchange (FRA) under the ticker RHM. However, U.S. investors can gain access to the FRA only through American Depositary Receipts (ADRs). It represents shares of foreign companies and trades in the U.S. markets in dollars.
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The U.S. congresswoman’s portfolio has surged nearly 105% after she purchased the German arms manufacturer stock. In addition, between February 12 to 18, Rheinmetall AG spiked 35% in just a week. Though her purchase looks suspicious, it is not known if the congresswoman has details about arms purchases from the German manufacturer.
Nonetheless, Chris D’Aloia, spokesperson of Rep. Susie Lee clarified to Finbold that her ex-husband managed the trading account on behalf of their children. “Representative Lee strongly supports a ban on Members of Congress directing trades of individual stocks. Representative Lee did not own this account and had no authority to direct any trades made — she had no knowledge of the trade as the account was managed by her ex-husband on behalf of their children, the sole beneficiaries of this account.”