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Nvidia Stock Investment Attracts Congress Interest

Source: Piotr Swat / Shutterstock.com

Nvidia Stock Investment is attracting attention from members of Congress, with Rep. Josh Gottheimer joining the likes of Nancy Pelosi in investing in the chipmaker.

Gottheimer purchased between $1,001 and $15,000 worth of NVDA stock on June 28, according to a recent regulatory filing. This follows Pelosi’s husband buying 10,000 shares of NVDA worth between $1 million and $5 million last month.

Gottheimer also purchased shares of Apple (NASDAQ:AAPL), Broadcom (NASDAQ:AVGO), and Microsoft (NASDAQ:MSFT) on the same day. However, he sold stock in John Deere (NYSE:DE), Lowe’s (NYSE:LOW), and Marriott (NASDAQ:MAR).

Information technology stocks seem to be a favorite for Gottheimer, who has made 760 trades in the sector, almost double his next most-traded sector, healthcare, at 386 trades.

Gottheimer is one of the most active members of Congress when it comes to investing, having made 620 trades in 2023, the fourth highest among Congressional investors. His estimated net worth is around $48.42 million, according to Quiver Quantitative.

Nvidia stock investment remains a Wall Street darling, with its stock up 178% this year. Some investors and analysts believe the bull run may not be over, with EMJ Capital founder Eric Jackson predicting a potential doubling of Nvidia’s value by year-end.

It remains a key focus for many high-profile investors, and its performance is closely watched for indications of future trends in the tech sector.

Investors will be watching the company’s August earnings call for clues about the future of the rally.