A Congress Member Sold Up To $250K In Philip Morris Intl Stock: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Arkansas Representative French Hill reported selling $100,001 - $250,000 worth of Philip Morris Intl (NYSE:PM) stock on December 13, 2023, according to a filing. While Congressional transactions can be a factor for investors to consider, they should not be the primary basis for investment decisions. The STOCK Act prohibits Congress members from using non-public information for personal gain in stock trading.
December 14, 2023 | 3:05 pm
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NEUTRAL IMPACT
Rep. French Hill sold between $100,001 and $250,000 of Philip Morris Intl stock. While this is public information, it should not be used as a primary indicator for the stock's movement due to the STOCK Act.
The sale of Philip Morris stock by Rep. Hill is a matter of public record and could be of interest to investors. However, the STOCK Act limits the use of private information for stock trading by Congress members, making it less likely that this sale is based on non-public information. Therefore, the impact on the stock is neutral in the short term, as the sale does not necessarily indicate a negative outlook on the company by the seller.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 50