Congressional Trading Report: Rep. Mark Green Sold Over $100K In NGL Energy Partners Stock
Portfolio Pulse from Benzinga Insights
Rep. Mark Green from Tennessee reported selling stock of NGL Energy Partners (NYSE:NGL) valued between $100,001 and $250,000 on January 17, 2024. The shares of NGL Energy Partners were trading up 0.5% at $5.03 at the time of the report. Congressional transactions are monitored under the STOCK Act, which prohibits using non-public information for personal gain and requires prompt disclosure of transactions.
January 18, 2024 | 3:05 pm
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NEUTRAL IMPACT
Rep. Mark Green sold a significant amount of NGL Energy Partners stock, which could influence investor perception, despite the stock trading up 0.5% at $5.03.
While congressional trades can influence market perception, the sale by Rep. Green does not necessarily indicate a negative outlook on NGL Energy Partners, as the stock was trading up. The STOCK Act ensures transparency, and the disclosed transaction is within legal bounds. The impact on the stock price is likely to be neutral in the short term, as the reasons for the sale are not disclosed and may not reflect on the company's fundamentals.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 70