Rep. Marjorie Taylor Greene bought stocks hit hard by Trump tariffs during market meltdown
Rep. Marjorie Taylor Greene, an avid supporter of the Trump administration’s trade policies, not only bought stocks last week as others dumped them in a panic — she scooped up some of the biggest losers.
Lululemon, Dell Computer, Amazon, the parent of Restoration Hardware and a few others hit hard by President Trump’s tariff threats were down 40% on average late last week when the Georgia Republican pounced.
Data from a required three-page financial holdings document doesn’t disclose exactly how much she paid for the stocks, only ranges and dates.
But however much she spent, some of her bets are working out so far, at least as of Wednesday’s close, after markets soared on Mr. Trump’s decision to pause most of his “reciprocal tariffs” on nations other than China for 90 days. Markets fell again Thursday, but remain above Wednesday morning’s levels.
RH, formerly called Restoration Hardware, is Greene’s clear winner. It jumped more than a third since Friday’s close, when she bought it after a stunning collapse in price that shook even the head of the furniture retailer.
“Oh, sh…!,” said RH CEO Gary Friedman in a conference call last week as the stock plunged.
Dell has jumped 9% since Greene bought the stock last week after it had lost more than half its value.
Lawmakers from both major parties have proposed bills banning members from stock trading because of the apparent conflict of interest in owning shares of companies they can heavily influence with positions they can take in office.
But none of the clunkily named bills — The Transparent Representation Upholding Service and Trust in Congress Act, for instance — has been passed. A new bill, The End Congressional Stock Trading Act, was proposed last month.
Greene’s office has not responded to Associated Press requests for comment.
The MAGA supporter has been outspoken in her support of Mr. Trump’s tariffs.
“Tariffs are a powerful proven source of leverage to protect our national interests,” she posted on X earlier this year, adding, “We will win this trade war.”
Hours before halting most of the tariffs Wednesday, Mr. Trump steered his supporters to the markets, writing on his Truth Social platform, “THIS IS A GREAT TIME TO BUY!!!”
Investors are not completely convinced.
After surging on Wednesday when Mr. Trump called a partial halt to the import taxes, stocks were heading down again Thursday. The S&P 500 closed down 3.5% Thursday afternoon, paring back many — but not all — of Wednesday’s gains. Restoration Hardware’s parent company, one of Greene’s picks, fell more than 10% Thursday, though the company remains above last Friday’s share price.
