Chinese critic Sen. Tommy Tuberville bought Alibaba stocks and options again

Sen. Tommy Tuberville, R-Ala., Holds a press conference in the Senate Subway to propose a vote on the Jan. 6 commission today and delay the Endless Frontier Act and Innovation and Competition Act until June, Friday, May 28, 2021.

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Senator Tommy Tuberville of Alabama, who has been a staunch critic of China and businesses there, has since last summer bought and sold shares and options of Chinese e-commerce giant Alibaba after questions have been raised on similar transactions, disclosure reports reveal.

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

In July, the Republican’s spokeswoman told CNBC that in mid-2000 he had ordered his financial advisers to sell a small stake in Alibaba shares after learning they were part of his wallet.

That previous stock sale then valued at less than $5,000 took place when the former Auburn University football coach was running for the Senate seat.

It was revealed in July that Tuberville violated a federal financial transparency law, the STOCK Act, by failing to disclose about 130 stock and stock option trades from January 2021 to May 2021 within 45 days.

These transactions included a January 25, 2021 sale of stock put options for Alibaba Group Holding Limited.

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

This sale took place months after the sale of Alibaba shares that its spokesperson had described.

His spokeswoman at the time said Tuberville was not even aware of the transactions because they had been handled by his financial advisers.

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

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

On September 13, Tuberville and his wife in four separate transactions sold Alibaba options with a strike price of $230, and bought Alibaba put options with the same strike price, according to another disclosure. In total, these transactions were valued between approximately $80,000 and $215,000.

On Wednesday, the spokeswoman again pointed the finger at her financial advisers when asked about her cut recent purchases of Alibaba shares on the account.

“Senator Tuberville has long had financial advisers who actively manage his portfolio without his day-to-day involvement,” she said in an email.

Asked if Tuberville now plans to tell those advisers not to trade shares of Alibaba or other Chinese companies given her criticism of China, the spokesperson replied: “Sure”.

In his financial disclosure statement filed Wednesday, Tuberville said he and his wife, through their joint account, purchased shares of Alibaba Group Holding Limited American Depositary valued at $50,001 to $100,000 on Dec. 14.

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The next day, the Tubervilles bought shares of Alibaba valued in the same value range, according to the disclosure, allowing lawmakers to report transactions in ranges, rather than exact amounts.

On Dec. 21, the Tuberville account purchased Alibaba shares worth between $15,001 and $50,000, according to the disclosure.

The couple then proceeded on Dec. 23 with what the senator described on the form as a “partial” sale of Alibaba stock, valued at between $50,001 and $100,000.

The Twitter account, which tracks lawmakers’ disclosure statements, told CNBC about 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 U.S. investments in Chinese companies that the White House believes would undermine the security or democratic values ​​of the United States and its allies.

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

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

In addition to trading in Alibaba, Tuberville and his wife also bought shares of Stratasys Ltd last month. valued between $15,001 and $50,000, and made a partial sale of Apple stock valued between $50,001 and $100,000, according to the disclosure.

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

Tuberville’s individual account purchased a commodity futures contract valued between $1,001 and $15,000 for the delivery of livestock in April.

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