Senator Tommy Tuberville, R-Ala., Holds a press conference on the Senate subway to propose a vote today on the January 6th commission and the Endless Frontier Act and Innovation and Competition Act on Friday, November 28th. May 2021, to be postponed.
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Alabama Senator Tommy Tuberville, who is a staunch critic of China and its businesses, has been buying and selling stocks and options in Chinese e-commerce giant Alibaba since last summer after questions about similar transactions arose, disclosure reports show.
Tuberville made three separate purchases with his wife, Suzanne Tuberville, of Alibaba stock totaling up to $ 300,000 as recently as December, according to a financial report filed Wednesday.
In July, the Republican spokeswoman told CNBC that he directed his financial advisors to sell a small portion of Alibaba stock in mid-2000 after learning it was in his portfolio.
The previous sale of less than $ 5,000 worth of stock came when the former Auburn University soccer coach ran for the Senate seat.
In July, it was revealed that Tuberville had violated a federal financial transparency act, the STOCK Act, by failing to file disclosure of approximately 130 stock and stock option deals in a 45-day period from January 2021 to May 2021.
Those deals included a sale of stock put options for Alibaba Group Holding Limited on January 25, 2021.
The sale of the put options – which would give their holders the right to sell Alibaba through September 19 at a share price of $ 230 – was valued at $ 15,001 to $ 50,000.
That sale came months after the Alibaba stock divestment its spokeswoman had described.
His then-spokeswoman said Tuberville didn’t even know about the deal because it was being handled by its financial advisors.
Earlier that same month, on July 14, Tuberville and his wife had jointly bought put options in Alibaba valued at between $ 15,001 and $ 50,000, while on the same day they sold the company’s put options at a slightly lower strike price, the same Value had height.
These transactions were only made public in a report Tuberville filed in August after the news reported his breach of company law.
On September 13, Tuberville and his wife, in four separate stores, sold Alibaba options with an exercise price of $ 230 and bought Alibaba put options with the same exercise price, further revelation shows. Overall, these transactions were valued between approximately $ 80,000 and $ 215,000.
On Wednesday, the spokeswoman again referred to his financial advisor when asked about his together the account’s recent Alibaba stock purchases.
“Senator Tuberville has long had financial advisors who actively manage his portfolio without his day-to-day involvement,” she said in an email.
When asked whether, in view of its criticism of China, Tuberville was planning to tell these advisors not to trade in the shares of Alibaba or any other Chinese company, the spokeswoman said: “Of course.”
In his financial disclosure filed Wednesday, Tuberville said he and his wife purchased shares in Alibaba Group Holding Limited American Depositary valued at between $ 50,001 and $ 100,000 through their joint account on Dec. 14.
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The next day, the Tubervilles bought Alibaba shares in the same range, the disclosure allowing lawmakers to report transactions in ranges rather than exact amounts.
On December 21, the Tuberville account bought Alibaba shares valued at between $ 15,001 and $ 50,000, the disclosure said.
The couple then carried out a “partial” sale of Alibaba stock valued at between $ 50,001 and $ 100,000 on December 23, as the Senator described on the form.
Congresstrading.com’s Twitter account, which is tracking lawmakers’ disclosure requests, notified CNBC of Tuberville’s purchases of Alibaba stock.
Tuberville praised President Joe Biden in June for enacting an executive order that would allow the United States to prohibit U.S. investment in Chinese companies that the White House said may affect the security or democratic values of the country US and its allies would undermine.
In a statement made at the time, Tuberville said, “Chinese companies routinely violate US sanctions laws and actively facilitate the Chinese Communist Party’s military expansion and persecution of religious minorities.”
In May, Tuberville introduced the TSP Investment Prohibition Law in China, which would permanently ban federal retirement savings plans from investing in a Chinese company.
In addition to running Alibaba deals, Tuberville and his wife also bought shares in Stratasys Ltd. last month. valued at between $ 15,001 and $ 50,000 and partially sold Apple shares valued at between $ 50,001 and $ 100,000.
The couple also bought stock options for Invesco QQQ Trust, Series 1, and Cleveland Cliffs, and sold options for PayPal and ChannelAdvisor Corp.
The Tuberville Individual Account bought a commodity futures contract valued at between $ 1,001 and $ 15,000 for the delivery of cattle in April.