Congressman Jim Langevin buys Tesla shares and sells Alibaba

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Congressman James "Jim" Langevin made wise investment choices in March.

Democrat from Rhode Island, a prominent member of the House Armed Services Committee and the Homeland Security Commission, buys
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(TSLA) and the sale of US depository shares in
Alibaba Group Holding

(Baba)

According to a financial disclosure form filed by Langevin at the end of March, he had purchased $ 200,000 to $ 500,000 of Tesla stock in two transactions on March 15 and 22. Specific amounts are not required for disclosure, only ranges. He also purchased call options of $ 1,000 to $ 15,000 on Tesla shares at a price of $ 277.50. They expire on Friday, April 12th.

Langevin also sold Alibaba ADRs of USD 250,001 to USD 500,000 on March 4, as well as call options of USD2,002 to USD30,000 from Alibaba ADR on March 7, at reference of 177.50 USD and 180 USD. Options expire on Friday.

Langevin's congressional office did not respond to a call following comments on the transactions.

Tesla's stock fell this week when the electric car company announced that March's deliveries had come to light. The shares were subject to more uncertainty when CEO Elon Musk arrived in federal court in New York in a dispute with the Securities and Exchange Commission. The Tesla stock is down nearly 18% since the beginning of the year.

Alibaba's ADRs, by contrast, surged by more than a third in 2019. A bullish analyst said in February that the Chinese Internet giant's "position in e-commerce is unassailable because it has the data most valuable consumer goods in China. "

Write to Ed Lin to [email protected] and follow @BarronsEdLin.