A recent stock purchase by Sen. John Fetterman is raising eyebrows for its timing and because the company has reportedly received billions in federal funding that his committee oversees.
Benzinga, a stock trading and news site, cited a post by an online stock tracker in reporting that Fetterman bought an unspecified number of shares in semiconductor company Micron for $321.80 on March 30.
At the time of the purchase, Micron stock was at a “short-term bottom,” according to Benzinga, and the stock price since then has risen more than 60%.
The pelositracker X account, which has 1.5 million followers and initially posted about Fetterman’s trade, said the Micron stock was at $517.44 as of Monday.
“This is why we track the politicians,” posted pelositracker, which called Fetterman’s stock purchase “suspect.”
Fetterman, reached by PennLive, declined to comment on the report.
Stock tracking site Quiver Quantitative listed the Micron purchase for Fetterman at between $1,001 and $15,000 and the owner as “child.”
In late March, Micron received a little over $6 billion in federal funding through the CHIPS Act, reported pelositracker, which noted that Fetterman sits on the Senate Commerce Committee that oversees CHIPS Act funding.
Benzinga reported that Micron’s stock surge “comes amid the broader rally in semiconductor stocks driven by rising AI demand.”