U.S. Georgia Representative Marjorie Taylor Greene has disclosed several interesting purchases during the past week. Notably, she disclosed purchasing between $1,000 and $15,000 of Crowdstrike (NASDAQ:CRWD) on June 24. That was the same day that the cybersecurity company was added to the S&P 500.
Additionally, Greene serves on the Cybersecurity, Information Technology and Government Innovation subcommittee.
Crowdstrike is a leader in the cybersecurity industry and is up by about 55% year-to-date (YTD). It’s also profitable with a GAAP EPS of 17 cents in the most recent quarter on top of sales growth of 33%.
“In Q3 FY2024, CrowdStrike achieved over $3 billion in Annual Recurring Revenue (ARR), making it the fastest and only pureplay cybersecurity software vendor in history to reach this milestone. In its most recently completed quarter, CrowdStrike delivered a record ending ARR of $3.65 billion, a 33 percent increase year-over-year,” said Crowdstrike in a press release.
Furthermore, Crowdstrike achieved the record of a cybersecurity company being added to the index in the shortest amount of time.
Marjorie Taylor Greene Discloses Purchases in CRWD, NEE, ASML Stocks
Besides Crowdstrike, Greene also purchased between $100,001 and $250,000 of U.S. Treasury Bills and between $1,000 and $15,000 each in ASML (NASDAQ:ASML), NextEra Energy (NYSE:NEE) and Costco (NASDAQ:COST). ASML and NEE stand out because they are both major beneficiaries of the AI boom.
Energy companies have done well this year amid increased power demand from AI data centers. NextEra is no exception and has risen by about 14% YTD, which doesn’t include the returns from its nearly 3% dividend.
The company has a focus on solar energy and believes that it is the most cost-efficient form of energy. Through its Ten-Year Site Plan, NextEra expects solar to account for 38% of its power generation compared to 6% today.
However, NEE stock fell by about 8% from May 31 to June 24 on the heels of a $2 billion equity unit sale. Greene’s buy may indicate that she believes the decline will only be temporary.
Greene isn’t alone. Other politicians who have disclosed buying NEE stock in 2024 include Rep. Ro Khanna and Rep. Kevin Hern.
As for ASML, the company has a major foothold in the semiconductor industry, as it essentially operates a monopoly in extreme ultraviolet (EUV) lithography machines. These machines are a crucial part in the chip manufacturing process and cost between $180 million and $380 million per machine. As a result, Greene’s ASML stock buy could be perceived as a stamp of confidence for the AI industry.
ASML is up more than 40% so far this year in light of expectations for increased semiconductor equipment demand. Its largest customers include Samsung, Intel (NASDAQ:INTC) and Taiwan Semiconductor (NYSE:TSM).
On the date of publication, Eddie Pan held a LONG position in CRWD. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
