Rep. John McGuire Caught Trading Stocks on Insider Information Again

CHARLOTTESVILLE, VA — New financial disclosures show Congressman John McGuire (R-VA) sold housing-related stocks ahead of legislation that threatened to reduce their value and bought SpaceX stock while serving on committees that oversee the company's federal contracts.

“This is just ridiculous — McGuire is using insider information to make himself richer while voting to make all of us poorer,” said Tom Perriello, the Democratic candidate challenging McGuire in Virginia's 5th District. “No wonder McGuire has been hiding from his constituents for nearly two years. He has been voting to raise our taxes and costs, while making sure to look out for himself.”

The disclosures, filed with the Clerk of the House, prove that McGuire was trading housing stocks while Congress was shaping and completing the 21st Century Road to Housing Act. McGuire was personally invested in private equity companies that both parties agree have helped drive up rent and housing prices. He dumped those stocks before the law's new regulations could reduce their value. Just three days before the bill became law, McGuire sold thousands of dollars’ worth of BlackRock stock.

That same disclosure shows McGuire bought thousands of dollars' worth of SpaceX stock shortly after its IPO while serving on the House Armed Services Committee, which oversees SpaceX's federal contracts, and on House Oversight and Government Reform subcommittees focused on cybersecurity, information technology, and military affairs—areas where SpaceX does extensive business with the federal government. Those roles gave him regular access to classified and other sensitive briefings, including information that could affect the companies whose stock he trades but is not available to the public. The disclosure also shows he holds significant investments in Meta, Microsoft, and NVIDIA.

“The people are sick and tired of congressmen like John McGuire who treat public office like a personal ATM,” said Perriello. “It is time to ban stock trading by members of Congress and get rid of those who have broken the public trust. It is time to Fire McGuire. I got into this race because the people deserve better than a Congress that prioritizes making themselves rich instead of making life affordable for the rest of us.”

Perriello has always refused donations from lobbyists and corporate PACs. He has pledged to trade no individual stocks during his time in Congress and to fight to end the flood of dark money in politics. He has been endorsed by End Citizens United, one of the nation’s leading anti-corruption advocacy groups.

Perriello previously represented Virginia’s Fifth District, the only Democrat in a generation to have flipped a congressional district west of Richmond. He has spent 20 years leading non-profit organizations fighting to increase wages, expand affordable healthcare, and protect the rights guaranteed by our Constitution. Tom has also served two tours representing the United States as a Special Envoy. He has been endorsed by Governor Abigail Spanberger, Lt. Gov. Hashmi, Senators Kaine and Warner, and more than 70 local and statewide leaders.