Congresswoman Discloses Purchase Of Defense Stock Lockheed Martin Before 'We Must Hold Iran Accountable' Comment: Is There A Potential Conflict Of Interest?
Portfolio Pulse from Chris Katje
Rep. Kathy Manning disclosed the purchase of Lockheed Martin Corp (NYSE:LMT) shares before making a statement on holding Iran accountable after a drone attack in Jordan killed three U.S. soldiers. The transactions, potentially made by her spouse, could indicate a conflict of interest as defense stocks like LMT may benefit from increased military action. Manning, a member of the Committee on Foreign Affairs, has made over 700 trades since taking office. Lockheed Martin's stock could rise if the U.S. retaliates against Iran, as indicated by statements from President Biden and Defense Secretary Lloyd Austin.
February 08, 2024 | 7:44 pm
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POSITIVE IMPACT
Lockheed Martin Corp shares could see a short-term increase due to potential U.S. military action against Iran, as indicated by Rep. Manning's statement and her recent purchase of LMT shares.
The potential for increased military action against Iran, as suggested by Rep. Manning's statement and her position on the Committee on Foreign Affairs, could lead to higher demand for Lockheed Martin's defense products. This, combined with the recent purchase of LMT shares by Manning, suggests a positive short-term impact on LMT's stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90