A recent stock purchase of a tech company by US Sen. John Fetterman (D-Pennsylvania) has surged in value since he purchased the stock in late March.
On March 30, Fetterman purchased between $1,000 and $15,000 in stock purchases from Micron Technology, a company that manufactures computer memory and data storage products, at $321.80 a share, according to Quiver.
Since then, Micron’s price per share has jumped to $542.21, or a 68% increase.
(Source: Quiver)
Multiple media outlets are reporting that the tech storage company’s value is surging thanks to the ongoing artificial intelligence boom and the need for computing memory.
Public records show that one of Fetterman’s children officially made the purchase, as well as purchases in Microsoft, Alphabet, Amazon, and Erie Indemnity.
Fetterman sits on the US Senate’s Committee on Commerce, Science and Transportation, which oversees the implementation of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act. In December 2024, the Biden administration awarded Micron over $6 billion in CHIPS Act funds to produce computer chips.
In 2023, Fetterman supported the ETHICS Act, which would ban members of congress, their spouses and children from owning or trading stocks, commodities, or futures.
“Lawmakers should not be able to profit off the same companies that they are regulating. Letting members of Congress trade stocks opens the door to corruption,” Fetterman said at a press conference introducing the bill.
“Lawmakers should be focused on getting results for their constituents — not lining their own pockets.”
