Congressional Trading on Verizon Communications: An Analysis of Trading Activity
Portfolio Pulse from Benzinga Insights
Over the past three months, 5 congressional members have traded over $69,006 worth of Verizon Communications (NYSE:VZ) stock, with a total net investment of -$65,002, leaning towards the sell-side. The stock price has declined by 2.79% during the same period.
June 09, 2023 | 3:57 pm
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Congressional members traded over $69,006 worth of Verizon Communications stock in the past three months, with a net investment of -$65,002. The stock price has declined by 2.79% during the same period.
The recent sell-side activity by congress could be a result of lost confidence in the company's stock due to the recent price decrease. However, the sell-side activity is not overwhelming as only 66.67% of the total amount traded was purchase and 33.33% were sales. This makes it difficult to say if congress truly is bearish on Verizon Communications. Investors should consider other factors, such as a company's financials, analyst ratings, and broader market trends, before making any investment decisions.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100