In the aftermath of the presidential debate between former President Donald Trump and current U.S. Vice President Kamala Harris, Trump Media (NASDAQ: DJT) faced a significant blow on September 11. The stock plummeted by up to 15% before settling 10% lower at $16.68, shedding $1.95 (-10.47%). The downward trend continued into September 12’s pre-market trading, with shares slipping further to $16.36, marking a $0.32 decline (-1.92%).
One of the catalysts behind this decline was the market’s leaning towards Vice President Harris, leading to the continued sell-off in Trump Media stock. This downward trajectory added to the long-running decline the stock has been experiencing, particularly since Representative Marjorie Taylor Greene entered the picture.
On October 22, 2021, Greene made a significant investment of up to $50,000 in DJT when shares were trading at $92-$94. However, since then, the stock has plummeted by approximately 83%, highlighting Greene’s entry as a peak period for the stock.
Meanwhile, cybersecurity company CrowdStrike (NASDAQ: CRWD) featured as one of Greene’s noteworthy trades. She initiated a new position in the company on June 24 at $377.93. By September 12, the stock had dropped to $253.53, indicating a 33% decrease. Notably, Greene’s position on the House Cybersecurity Subcommittee brought some irony to her investment in CrowdStrike.
Greene’s trading activities have placed her in the spotlight akin to a Jim Cramer-like figure in the investment realm, sparking discussions about a potential “Inverse Greene ETF” due to her less-than-stellar performance. Although not known for timing the market well, Greene has made significant moves reminiscent of Nancy Pelosi, particularly in big tech companies like Nvidia (NASDAQ: NVDA).
Despite the uncertainties surrounding Greene’s trades and their resemblance to her CrowdStrike investment experience, the notion of an “Inverse Greene ETF” seems to be gaining attention. Whether these investments will prove fruitful or not remains to be seen, but the concept of an ETF inversely linked to Greene’s trades is gaining traction in investment circles.