Top 10 Stocks Being Purchased by American Politicians in 2024

American politicians are known for using their insider knowledge and influence to make money off the stock market, and the year 2024 is no exception. A recent report by Unusual Whales shed light on the top 10 stocks that American politicians are buying this year, giving investors and researchers a glimpse into the trading habits of Congress members and senators.

The report revealed that the most popular stocks among American politicians in 2024 were from the healthcare, financials, and technology industries. Democrats seemed to have an edge over Republicans in their stock picks, with investments in technology companies proving to be more profitable compared to the latter group’s heavy focus on financials, oil, and commodities.

Despite the controversies surrounding insider trading by politicians, data analysis shows that Congress members are indeed savvy investors. An independent analysis of over 9,000 stock trades initiated by members of Congress revealed that their stock picks beat the S&P 500 by about 6% over the long term. Even in the short term, Congress members’ stock picks outperformed the market, albeit with narrow margins.

Some of the top stocks that American politicians are buying in 2024 include Advanced Micro Devices, Inc. (NASDAQ:AMD), Johnson & Johnson (NYSE:JNJ), and Devon Energy Corp (NYSE:DVN). These stocks have garnered interest from both hedge fund investors and Congress members, showcasing the potential for profitable investments in these companies.

With the ongoing scrutiny and calls for increased regulation on stock trading by politicians, the spotlight on their investment activities continues to grow. As American politicians navigate the stock market landscape, their trading habits provide valuable insights for investors looking to capitalize on potential opportunities in the market.