by Luke Sprinkel
Minnesota Republican Party Chairman David Hann recently highlighted a “suspicious” stock trade by Sen. Tina Smith’s husband, Archie.
Alpha News recently reported on the details of Archie Smith’s stock trade. The senator’s husband purchased between $100,001 and $250,000 worth of stock in Tactile Systems Technology Inc. on Nov. 8. Since that purchase, the stock price of Tactile Systems has increased by as much as 45%.
In the weeks since that Nov. 8 purchase, Archie Smith could have made anywhere from $45,000 to $112,500. Tactile Systems is a medical device company based in Minnesota.
In his statement, Chairman Hann said, “Given Senator Smith’s position on the Senate Committee on Health and that Tactile Systems operates in the medical devices sector, the stock transactions by her husband warrant public scrutiny and raise serious questions about potential conflicts of interest.”
Quiver Quantitative, a tracker of congressional stock trades, first drew attention to the stock trades of Tina Smith’s family. Regarding Archie Smith’s purchase of Tactile Systems stock, Quiver Quantitative stated, “The situation raises broader questions about the ethics of political figures investing in industries they directly influence through their legislative work.”
Earlier this week, Quiver Quantitative reported on another purchase made by Sen. Smith’s husband.
On Nov. 10, Archie Smith purchased between $50,001 and $100,000 worth of stock in Artivion, Inc.; another medical device company. Since that purchase, Artivion stock has increased over 30%. On Nov. 16, Archie Smith once again purchased between $50,001 and $100,000 worth of stock in Artivion, Inc. Since that Nov. 16 purchase, Artivion stock has increased roughly 25%.
Cumulatively, Sen. Tina Smith’s husband could have made anywhere from $27,500 to $55,000 in the last few weeks from those stock trades.
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Luke Sprinkel previously worked as a Legislative Assistant at the Minnesota House of Representatives. He grew up as a Missionary Kid (MK) living in England, Thailand, Tanzania, and Saudi Arabia. Luke graduated from Regent University in 2018.
Photo “Tina Smith” by U.S. Senator Tina Smith.
I thought insider trading was legal for politicians?
Of course, it may only be legal for the DNC?