Chinese critic Senator Tommy Tuberville once again bought shares and options on Alibaba

Senator Tommy Tuberville, Republican, is holding a news conference in the Senate subway to propose a Jan. 6 committee vote today and to postpone the Infinite Boundaries Act and the Innovation and Competition Act until June, Friday, May 28, 2021.

Tom Williams | CQ-Roll Call, Inc. | Getty Images

Disclosure reports reveal that Senator Tommy Tuberville of Alabama, who has been a vocal critic of China and companies there, has bought and sold shares and options in Chinese e-commerce giant Alibaba since last summer after asking questions about similar transactions.

Tuberville most recently in December made three separate purchases with his wife, Susan Tuberville, of Alibaba stock worth a total of $300,000, according to a financial disclosure report filed Wednesday.

In July, a GOP spokeswoman told CNBC that in mid-2020 he had ordered his financial advisors to sell a small stake in Alibaba stock after learning it was in his portfolio.

The previous sale of shares then valued at less than $5,000 occurred when the former Auburn University football coach was running for a Senate seat.

Tuberville was disclosed in July that it had violated the federal financial transparency law, the Stock Act, by failing to provide disclosures for about 130 trades of stock and stock options from January 2021 through May 2021 within a 45-day deadline.

Those trading on January 25, 2021 included the sale of share placement options to Alibaba Group Holdings Ltd.

The put options sale – which would give holders the right to sell Alibaba at a share price of $230 by September 19 – was estimated to be worth between $15,001 and $50,000.

This sale occurred months after the liquidation of Alibaba shares described by its spokeswoman.

His spokeswoman said at the time that Tuberville was unaware of the deals because his financial advisors handled them.

Earlier in the same month, on July 14, Tuberville and his wife jointly purchased put options on Alibaba worth between $15,001 and $50,000, while on the same day selling put options at the company at a slightly lower strike price valued at the same the value. amount.

These transactions were only disclosed in a report Tuberville filed in August, following news reports about his violation of the stock law.

On September 13, Tuberville and his wife sold in four separate deals Alibaba options at a strike price of $230, and bought Alibaba put options at the same strike price, another disclosure showed. Altogether, these transactions were estimated between about $80,000 and $215,000.

On Wednesday, the spokeswoman again referred to his financial advisors when asked about his condition Mutual Recent account purchases of Alibaba stock.

“Senator Toberville has longstanding financial advisors actively managing his portfolio without his day-to-day interference,” she said in an email.

Asked if Tuberville now plans to tell these advisors not to trade shares in Alibaba or other Chinese companies due to his criticism of China, the spokeswoman said, “of course.”

In its financial disclosure on Wednesday, Tuberville said he and his wife purchased through their joint account Alibaba Group Holding Limited American Depositary shares worth between $50,001 and $100,000 on December 14.

CNBC Politics

Read more CNBC’s political coverage:

The next day, Tubervilles bought Alibaba shares at a value in the same range of value, according to the disclosure, which allows lawmakers to report transactions in ranges, rather than specified amounts.

On December 21, a Tuberville account purchased Alibaba shares worth between $15,001 and $50,000, the statement said.

Then, on December 23, the couple made what the senator described on the form as a “partial” sale of Alibaba stock, valued at between $50,001 and $100.00.

The Twitter account of, which tracks lawmakers’ disclosure filings, notified CNBC of Tuberville’s purchases of Alibaba stock.

Tuberville in June praised President Joe Biden for issuing an executive order that would allow the United States to ban American investments in Chinese companies that the White House said would undermine the security or democratic values ​​of the United States and its allies.

In a statement issued at the time, Tuberville said, “Chinese companies routinely violate US sanctions laws and actively enable the military expansion of the Chinese Communist Party and the persecution of religious minorities.”

In May, Tuberville introduced the China TSP Investment Ban Act, which would permanently ban federal retirement savings plans from investing in a Chinese company.

In addition to the Alibaba deals, last month Tuberville and his wife also bought shares of Stratasys Ltd. valued between $15,001 and $50,000, and they partially sold Apple shares worth between $50,001 and $100,000, according to the disclosure.

The couple also bought stock options for the Invesco QQQ Trust, Series 1, as well as Cleveland Cliffs, and sold options to PayPal and ChannelAdvisor Corp.

An individual Tuberville account purchased a commodity futures contract worth between $1,011 and $15,000 for cattle delivery in April.

Source link

Denial of responsibility! is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.
Andrew Naughtie

News reporter and author at @websalespromo