Stock Trading Ban Passes House Senate Vote Could Sink It

Happy Wednesday everyone. What's going on guys? It's Ricky with Techbook Solutions here with a very quick market update. So today there is a bill that has now passed Congress, but it's not over. Now it's heading on over to the Senate. So for those that have not heard the news breaking, the House has passed a congressional stock trading ban. Again, I don't have high hopes for this. And I'm going to explain to you why in just a little bit, but everything everyone else is talking about is like, "Oh my gosh." Right? Like, and again, don't get me wrong. I'm I'm always okay with being very open with you guys. I voted Republican, right? Some of you guys might not like that. Some of you guys might be surprised. I don't think you would be surprised. With that being said, if a Republican or as in Trump does something that I don't agree with, I have no problem calling him out, right? I vote Republican, but just like anyone, I'm entitled to my own opinion. If he's doing something that I don't agree with, I think it's right as an individual to be able to voice that. When I see these like covers of like, oh, look, 198,000 Democrats voted against it, I then began to dig deeper. Why would Democrats just on a blanket side vote against this? I'm not justifying them voting against it. I just wanted to understand why. Right? So, what did this bill consist of? Right? Take time, dig a little bit deeper, please, and do your own due diligence. It says, "Breaking, the US House officially passed a bill uh banning congressional members or Congress members from insider trading. Details include spouses and kids banned from buying individual stocks. Public not notice required before selling what they already own. Penalties of at least $2,000 or 10% of the trade. I think it should be 10% minimum of the trade, not $2,000. Plus, paying back any gains, the president and the administration officials are not covered. Oh, that's separate. Paying back any gains the president and the administration officials are not covered. I don't also like that. I think it should be, especially during this administration. Let's be honest, right? We've called out Trump for what he's done. Uh, and that's enriching himself while in office, especially with the cryptocurrency and investing in all these different companies ahead of major announcements. That's complete conflict of interest and insider trading enriching themselves while in public office. The president should be embedded into this bill. Again, just my opinion. I now uh it now heads to the Senate where it will need 60 votes to pass. So, when I dug a little bit deeper, it says context and controversy. bipartisan elements but partisan split. It had broad co-sponsorship but passed mostly along party lines. Some Democrats supported it as a step forward but criticized it for not going far enough. added provisions, a voter ID requirement from the Save Act America mandating proof of cit citizenship for federal voter registration and photo ID was attached which Democrats called a poison pill that could sink in the Senate. Now again, I agree with this. I don't know why this is controversial of like why we wouldn't require federalissued IDs for anyone that is voting for federal voter registration. I don't understand how that could ever be voted against but to my understanding that is more of a Democratic thing that they like to vote against. Right. To my again belief is illegals. They want illegals to vote as that is you know more favored to Democrats. to be able to reach a more vast pool of potential voters. I'm assuming that's why. Nonetheless, I don't agree with it, but that's fine. But for them to call this a poison pill, I could see the Democrat side of like, hey, this was just supposed to be like a straightforward bill, again, what did the Republicans ban uh or campaign on? Straight bills, no fluff, no funny business. This is funny business. Like again, let's call it what it is. I do not agree that like I don't agree with Democrats. I do believe that there should be voter ID requirements. With that being said, this bill has nothing originally to do with it. Like it's supposed to be on congressional members, no longer insider trading. So why not just pass the bill with what it is, right? Be straightforward, but it's politics. And again, it's very easy then when you see this cover and you're like, "Hey, these these titles are like, oh my gosh, 198,000 dem 198 Democrats voted against this." Of course they did. Nancy Pelosi just wants to enrich herself. Again, not justifying what she's done. I think they're all corrupt. Let's be honest, right? Just like Trump, just like Nancy Pelosi, they all insider trade, but they added something which they're calling a poison pill that could sink in the Senate. Right. We know Democrats are not going to want to pass this. It could be viewed as a poison bill. I don't agree that they shouldn't pass it, but it doesn't matter what I think, right? We just know that they're not going to pass it. So, I'm not sure if they're just doing it to kind of like, oh, look, you know, they're voting against this bill. But again, in the details of the bill, it adds a provision that requires voter IDs. Democrats are never going to support that, right? stronger alternatives. Other proposals requiring diverse uh diversement or covering executive branch exist but were not voted on here. So again, I think that is necessary. I think everyone including the president and the administration to all be covered under this no insider trading. But again, like I didn't even want to make this video. I just got sent this reel uh or the or the title over and over again. Like literally when I saw it, I said, "Lol, never going to pass." Like I think I said that in our discord cuz we know them. Like I think Trump really like again a fool I know but believe that I was like okay he can't be bought right like he's a billionaire doesn't need to be bought when he can enrich himself with insider trading right um dude they're it's the swamp. They're all corrupt. They're all just like it's so frustrating right I don't even want to get into it. I'm not against you. You're not against me. Right? It's not a I don't We're all here for the same reason. We just want to live a good life. And I truly do believe it's those politicians that are having us point the finger at one another. Like we're the problem. I don't care what you call yourself. I don't care what you want to identify as. You live your life. Let me live mine. My biggest thing is don't take my money and I don't care for them to take yours either right? um we would all live such a happy life if our politicians would just leave us alone, right? Uh but that's unfortunately not uh the world that we live in. It's the swamp. It's corrupt. And um I do not believe this bill is going to pass, right? Um I just wanted to explain kind of the back end of kind of the poison pill of why I don't think it's going to pass. And uh again, it's just the little sneaky um tag that most people won't look into and it just feeds the animosity between Republicans and Democrats. And I just think it's adding fuel unfortunately to the fire. With that being said, four different companies mainly reported earnings today. IBM gapped up, gave it back. Google gapped up, gave it back after um releasing how much they're going to be spending on capex. Tesla sold off even further. Again, a lot of spending in capex, right? And possibly even more to come. Down 4.25% razor thin margins. Um Tesla, I think, can sell off way more. Obviously, Tesla runs off of the hype of Elon. It's, you know, praised on that and I love Elon. Elon, I believe, again, let me refrain rephrase this. I believe Elon's one of the greatest minds of our generation. With that being said, his company when you look into it, and again, I'd love to show you if you click on the Pro Research, you can see Tesla's not growing. It hasn't grown since 2023. Revenue-wise, it's not growing. Oh, but Ricky, Tesla had one of its best quarters when it comes down to deliveries. Who cares? Look at their bottom line. They're not making any money. Their profit is razor thin. They no longer have government subsidies. They're no longer subsidized by the government. There's no incentives that are covered by the government to incentivize, right? that $7,500 tax credit that existed last year, it no longer exists. So, what has Tesla needed to do? Lower their prices, be more competitive, and that's eaten into their margins. Their net margins are like 1%. It's like pathetic. So, again, Tesla is not growing. And although their deliveries or their revenue might be up slightly, their margins are down. It's terrible. It's not sustainable. They need the optimist robot and they need the robo taxi or if not again the market will demand eventually some results and they just don't have it and trading at over 300 times their earnings. Again that reality is going to need to happen very soon. The big one that I want to talk about is Service Now. Big push up 5%. I really hope that this could be a turning point for Service Now. It is incredibly oversold but it's been incredibly bearish. I would love to follow up with this one and see if price action begins to support the idea of investing into this one um if it actually begins to recover. It once was a great performing stock until it wasn't right. Fear of being too small of a company in a more competitive now space. So again, tomorrow for those that do not know, tomorrow we have Intel and Nokia, American Airlines reporting earnings. I do plan to live stream some of this, but also we will be talking about it in our live trading session tomorrow right at market open like many of you guys saw. Again, I trade live every single morning right at market open. If you ever want to tune on in, it's the second link in the description down below. It's a onetime payment. It's lifetime access. You sign up once and again you just get to tune on in whenever it is that you want. Just take two minutes, click that second link, check it out, learn more. You can actually preview one of our previous and recent live trading sessions. So even before you sign up, you know exactly what to expect. I appreciate you guys' time. Hope that earned a thumbs up. And like always, let's make sure that we end the year on a green note. Take care team.