Democratic Congressman Bought DJT Stock After 2024 Election, Months After Saying Donald Trump 'Unfit To Serve'

U.S. Rep. Morgan McGarvey (D-Ky.) recently disclosed he bought and sold shares of Trump Media & Technology Group DJT in November, with the transactions occurring shortly after Donald Trump won the 2024 presidential election.

What Happened: McGarvey, who has been outspoken throughout the year about Trump, disclosed that he bought shares of the company co-founded by Trump, as shown on the Benzinga Government Trades page.

Benzinga has contacted both McGarvey and Trump Media & Technology group for comment on this story.

The Representative disclosed the following transactions on Dec. 10:

• Amazon.com Inc AMZN: Sold $1,000 to $15,000
• Charles Schwab Corporation SCHW: Sold $1,000 to $15,000
• Interactive Brokers IBKR: Sold $1,000 to $15,000
• Microsoft Corporation MSFT: Sold $1,000 to $15,000
• NVIDIA Corporation NVDA: Sold $1,000 to $15,000, Sold $1,000 to $15,000, Sold $1,000 to $15,000, Sold $1,000 to $15,000, Sold $15,000 to $50,000 (five separate transactions)
• Shell PLC SHEL: Sold $1,000 to $15,000
• Tesla Inc TSLA: Sold $1,000 to $15,000
• Trump Media & Technology: Bought $1,000 to $15,000, Sold $1,000 to $15,000

All of the transactions were made on Nov. 13, with the exception of DJT, with the buy date listed as Nov. 6 and the sale date listed as Nov. 8.

In the notes sections on the filing, McGarvey said DJT was "purchased without knowledge of filer or spouse." The notes also said that DJT stock was sold for a loss, as reported by Quiver Quant.

Did You Know?

• Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool

Why It's Important: The timing of the transaction, which occurred the day after the 2024 election was won by Trump, and the fact that McGarvey is a Democratic member of Congress will likely put a large spotlight on this transaction.

DJT stock saw huge volatility and a price increase in the lead up to the 2024 presidential election on Nov. 5. McGarvey's buy transaction took place on Nov. 6, the day after the election.

DJT stock traded between $34.13 and $45.77 on Nov. 6 when the shares were bought. On Nov. 8, when shares were sold, DJT stock traded between $26.70 and $33.03. Shares trade at $34.14 at the time of writing Wednesday.

The DJT trade could contradict McGarvey’s outspoken stance on Trump.

"In America, no one is above the law. Donald Trump, the convicted felon, is the presumptive Republican nominee for president and he is unfit to serve in any public office, especially the President of the United States," McGarvey said back in May when Trump was found guilty on 34 felony charges.

In July, McGarvey also shared comments on the dismissal of Trump's classified documents case.  

While McGarvey saw a loss in the DJT trade, he likely profited from selling the Tesla shares. McGarvey reported purchasing Tesla stock on Oct. 25, when shares were priced between $255.32 and $269.49. By Nov. 13, Tesla traded in the range of $322.50 to $344.60, and as of now, the stock stands at $411.52.

U.S. Rep. Marjorie Taylor Greene (D-Ga.) previously disclosed buying shares of Digital World Acquisition back in October 2021, the SPAC that took the media company public in March 2024.

The transaction was done with shares trading between $67.96 to $118.80. A tweet from UnusualWhales pins the purchase price at $94.20, meaning Greene is down significantly on her $15,000 to $50,000 purchase of the Trump-linked stock.

DJT Price Action: Trump Media & Technology stock traded at $34.15 Wednesday, versus a 52-week trading range of $11.75 to $79.38.

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