Quiver Quantitative, a website that tracks the stock purchases and sales of federal elected officials claims New Jersey Congressman Josh Gottheimer sold a bunch of non-performing stocks and bought shares of Northrop Grumman just days before Hamas invaded Israel.
What could easily be chalked off as a coincidence is being challenged by Quiver Quanative who eluded that Gottheimer may have known something was in the works.
Since his purchase less than a month ago, Northrop Grumman’s shares climbed 14.45%. Grumman is a major U.S. Defense Contractor and one of the biggest defense contractors in the world.
The company alleges Gottheimer bought the shares over some nefarious pre-existing knowledge of the impending war between Israel and Hamas. While it doesn’t appear that Gottheimer had any knowledge of the Israel terror attack, the real reason could be a little less nefarious.
He is on record for selling some decent long-run stocks like Apple, Target, Broadcomm, and Mastercard. He traded those stocks and saw immediate returns after the war broke out in Israel, 14.45% His old stocks had either lost money or moved very little since his sale.
Gottheimer bought the stock on September 26, less than 24 hours after Grumman announced a $705 million contract awarded to them by the U.S. Air Force for a new advanced air-to-ground missile system.
“Northrop Grumman Corporation (NYSE: NOC) announced today the U.S. Air Force has awarded the company an approximately $705 million contract to deliver the Stand-in Attack Weapon (SiAW), an air-to-ground weapon that accelerates the pivot to a new generation of air power,” the company said in its statement.
Gottheimer serves on the House Permanent Select Committee on Intelligence.
While the claim that he had advance knowledge of the impending terrorist attack has not been proven, he did buy defense stocks prior to the attack and is now profiting from America’s war machine.
