Well-Connected Congressman's Stock Picks Performed Well, Are Being Embraced by the Street
Freshman NY Democrat Dan Goldman's picks garner high numbers on Fintel's Fund Sentiment Score
A number of stocks bought by Democratic Congressman Dan Goldman in April have performed very well in subsequent months, and data compiled by Fintel indicates that the Street is enamored with these names. Therefore, investors may want to consider at least keeping an eye on these stocks going forward.
An heir to the Levi Strauss (US:LEVI) fortune, Goldman led investigations for the House Intelligence Committee and was lead counsel for the first impeachment inquiry against President Donald Trump. He didn’t miss a beat on Thursday, weighing in with his statement on the indictment of Trump by Special Counsel Jack Smith.
Goldman, 47, won his seat in November 2022 after winning a hotly contested, 13-candidate primary in New York’s heavily Democratic 10th district, which runs from lower Manhattan to western Brooklyn. He serves on the Committees on Homeland Security and Oversight and Accountability, as well as the Select Subcommittee on the Weaponization of the Federal Government.
Accenture (US:ACN)
On April 10, Goldman reported that he had bought $50,000-$100,000 of global consultancy Accenture (US:ACN). From April 10 to June 7, ACN stock climbed 11%.
Accenture's put/call ratios are bullish, according to Fintel’s dashboard. Specifically, its put/call ratio on June 7 was 0.87, meaning that about 15% more bullish call options were bought on the name that day than bearish put options. The put/call ratios between May 31 and June 6 were also 0.87.
Also noteworthy is that ACN has a relatively high Fund Sentiment Score of 70.86. The proprietary quant score identifies stocks with the highest levels of institutional accumulation. ACN's score ranks 7,241 out of 36,406 names that were analyzed.
Affirm (US:AFRM)
Rep. Goldman acquired $1,000 to $15,000 of Affirm, a buy now, pay later fintech, on April 10. AFRM stock rallied sharply on June 7 after the company disclosed that some of Amazon's U.S. merchants were able to add Affirm’s Adaptive Checkout to Amazon Pay options at checkout. . Adaptive Checkout enables consumers to pay for items over periods of two weeks or a month.
Between April 10 and the morning of June 8 AFRM soared 47%. Affirm's put/call ratios are only slightly bullish, according to Fintel’s dashboard. Specifically, its put/call ratio on June 7 was 0.94, versus 0.96 on both June 6 and June 5.
More promising is its Fund Sentiment Score, which was 62.69 on June 8. As a result, it ranked 11,518 out of 36,408 names that were assigned the metric by the website.
Meanwhile, Affirm could be a good candidate for a short squeeze, Fintel data suggests. AFRM received a relatively high Short Squeeze score of 71.85 from fintel on June 8, ranking it 1,122 out of 4,606 names that were assigned the metric.
According to FINRA, 43% of the off-exchange trading volume of AFRM stock on June 7 was carried out by short sellers, versus 45.37% on June 6, 40.7% on June 5, and 41.4% on June 2.
ChargePoint Holdings (US:CHPT)
Goldman bought $15,000 to $50,000 of CHPT stock on April 10. A seller of electric-vehicle chargers, Charge Point's shares advanced 5% between April 10 and June 8.
The put/call ratios of CHPT are slightly bullish, as they ranged between 0.72 and 0.82 between June 1 and June 7, according to the Fintel dashboard. On a more positive note, the stock's Fund Sentiment Score was a robust 72.3, placing it 6,568 out of 36,408 names that were assigned the metric.
Moreover, CHPT also received a rather high Short Squeeze Score of 74.14, putting it in 956th place out of 4,606 names that were ranked for the category.