Looks like Tina “The Butcher” Smith is in the money – literally:
That’s six figures worth of profit, in one week.
Nothing suspicious there. Or here, for that matter.
The fact that the media isn’t covering it isn’t so much “suspicious” as it is “predictable”. The Strib, MPR News and all the rest are nothing but PR flaks for the DFL.
But that’s what we’re here for.
The laws as written completely allow insider trading by legislators that would have anyone else thrown in quicker than the the former Enron CEO. That the “eat the rich” left is silent about this, speaks volumes.
(Sorry, I know you hate that phrase)
*thrown in jail
There are, for me, three aspects of this that taken together stink. The first is the purchase itself which was suspiciously well timed to catch a 50% increase. In and of itself, this isn’t that odd; I’ve owned stocks that rose 50% or far more just after I purchased.
The second thing, however, is the apparent confidence that the stock will rise such that she laid down $250k. Whether in one shot or multiple, it doesn’t matter; throwing that much money at a start-up (aka a long shot) is noteworthy.
But the third thing that it occurred in this market. There are always stocks that rise for all sorts of reasons in almost market climates, but the present market is a crappy kind of blah. Don’t forget the easy-peasy 5+% you can get with CDs.
I’ll also mention that I don’t know much about the woman, but she’s never said or done anything to convince me of her investing or financial acumen. And that’s probably the most convincing part of this scandal(? What scandal?).
She probably got a tip from Hillary, you know, The Smartest Woman in America (TM), who invested $1,000 in cattle futures and made $100,000 back in the 70’s when that was real money.
I believe hypocrite Smith’s husband is in the financial industry.
^ There. That’s the link. Well, that and Hillary! as the big guy mentioned.
I looked up her assets, which seemed to be in the millions even before she became a Senator. So it’s not entirely implausible that she could drop that much money on Tactile, and she’s got other investments in Insulet (insulin pumps) and Abbott Laboratories. So either she has an “in” with medical companies that she’s using, or she’s got an interest and a bit of talent in picking them.