Monster insider trading alert: Ted Cruz sells up to $500k of Goldman Sachs stock
Ana Zirojevic
Apr 25, 2024
Despite criticism of individuals with insider knowledge of the inner workings of companies investing in the same organizations’
stocks, they seem to continue trading these shares unbothered, with the most recent example involving United States Senator Ted Cruz.
As it happens, Cruz has recently sold nearly $500,000 worth of
Goldman Sachs (NYSE:
GS) stock while, at the same time, critics pointed out that his wife, Heidi Cruz, was a managing director at the said investment
banking and securities behemoth, and therefore privy to insider information.
Specifically, the politician disclosed a sale of between $250,001 and $500,000 worth of GS shares from April 15, 2024, in the most recent US Senate
financial disclosures period transaction report, according to the information
shared by politician stock trades monitoring platform
congresstrading.com on April 24.
Ted Cruz’s GS shares sale disclosure. Source: congresstrading.com
Goldman Sachs stock price analysis
Meanwhile, Goldman Sachs shares were at press time trading at the price of $422.91, recording a slight decline of 0.23% on the day but nonetheless climbing 4.02% across the past week and advancing an accumulated 3.91% on its monthly chart, as per the most recent data on April 25.
Goldman Sachs stock price 7-day chart. Source: Finbold
All things considered, there is a possibility that the Cruz couple could hold important information about Goldman Sachs that could negatively impact the GS share price in the future, and they are trying to make as much profit as possible before this happens.
One example could be Goldman Sachs
getting out of the robo-advisory business with the sale of its Marcus Invest digital investing accounts to digital investment adviser Betterment while focusing on the GS’s core strengths –
investment banking, asset management, and trading.
However, the Goldman Sachs stock is currently demonstrating a strong technical rating, trading near its 52-week high and outperforming 79% of the other 210 stocks in the capital markets industry. That said, time will tell if GS shares retain their
bullish momentum triggered around four months ago.
United States Senator Ted Cruz, whose wife is a managing director at Goldman Sachs, has sold nearly half a million worth of GS stock.
finbold.com