Georgia’s U.S. Representative Marjorie Taylor Greene has recently made some impressive additions to her portfolio. The Congresswoman revealed last week that she purchased stakes in several key companies, including Crowdstrike (NASDAQ:CRWD), with an investment ranging between $1,000 and $15,000 on June 24. This purchase coincided with the cybersecurity company’s inclusion to the S&P 500.
Representative Greene is a member of the Cybersecurity, Information Technology, and Government Innovation subcommittee. The acquisition of Crowdstrike stocks could be indicative of her confidence in the company’s potential. Crowdstrike is a trailblazer in the cybersecurity sector, boasting a year-to-date (YTD) increase of approximately 55%. Additionally, it reported a GAAP EPS of 17 cents in the most recent quarter, alongside sales growth of 33%.
In a press release, Crowdstrike stated, “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.” This solidifies Crowdstrike’s reputation as a ground-breaking cybersecurity company, setting the record for the shortest time taken for a company of its kind to be added to the index.
But Greene’s discerning eye for potential high performers didn’t stop at Crowdstrike. She also invested between $100,001 and $250,000 in U.S. Treasury Bills, and $1,000 to $15,000 each in ASML (NASDAQ:ASML), NextEra Energy (NYSE:NEE), and Costco (NASDAQ:COST). ASML and NEE are particularly notable because of their significant benefits from the AI boom.
Energy companies have flourished this year, a boom largely attributable to the heightened power demand originating from AI data centers. NextEra is among these prospering companies, with a YTD increase of roughly 14%, excluding the returns from its nearly 3% dividend. As part of its Ten-Year Site Plan, NextEra anticipates solar power to comprise 38% of its power generation, a significant surge from the current 6%.
While NEE stock dipped by around 8% between May 31 and June 24 following a $2 billion equity unit sale, Greene’s investment suggests her conviction that this is a temporary setback. Other politicians, including Rep. Ro Khanna and Rep. Kevin Hern, have also disclosed purchases of NEE stock in 2024.
Turning our attention to ASML, the company boasts a monopoly in extreme ultraviolet (EUV) lithography machines, a vital component of semiconductor manufacturing. These machines come at a hefty price tag, between $180 million and $380 million each. Hence, Greene’s ASML stock acquisition could be interpreted as a vote of confidence in the AI industry.
Expectations of elevated semiconductor equipment demand has led ASML to rise by over 40% this year. Among its largest clients are Samsung, Intel (NASDAQ:INTC), and Taiwan Semiconductor (NYSE:TSM).
To conclude, Rep. Marjorie Taylor Greene’s recent purchases demonstrate her faith in these companies and their potential for growth. The constituents of her portfolio range from the cybersecurity sector to energy and semiconductor industries, all of which are at the forefront of technological advancement and innovation.
Opinions expressed in this article are those of the writer. At the time of publication, Eddie Pan held a LONG position in CRWD, and the responsible editor did not hold any positions (directly or indirectly) in the securities mentioned in this article.
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