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The Office of New York Representative Daniel Goldman has reported a sale of Taiwan Semiconductor (NYSE:TSM) stock on March 20, 2023. According to the Periodic Transaction Report the transaction was placed on March 20, 2023.
What Happened: A recent report from the House of Representatives Clerk's Office on March 20, 2023 reveals that Goldman made a sale of Taiwan Semiconductor stock valued between $50,001 - $100,000.
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Taiwan Semiconductor shares are trading up 1.83% at $91.69 at the time of writing.
The Importance of Congressional Transactions
Congressional transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
A Congressional transaction is when any Representative or Senator either buys or sells an individual stock. Anyone working in Congress must file a Periodic Transaction Report to inform the public of their recent transaction within 30 days of being notified of the transaction and within 45 days of the transaction date.
When a Senator or Representative makes a new purchase, that could be an indication that they expect the stock to rise.
A sale, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.
In April 2012, Former President Barack Obama signed the STOCK Act into law. The act prohibits members of Congress from using private information given to them by their position for personal gain such as buying or selling a stock. The act also expanded disclosure requirements for members of Congress by requiring them to file a monthly disclosure.
Trade Recap
A March filing states that New York Representative Daniel Goldman sold shares of Taiwan Semiconductor. The exact amount of the transaction remained unknown but the filing states a range of $50,001 - $100,000.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.