Speaker of the House Nancy Pelosi She was one of the most high-profile members of Congress when it came to buying and selling stocks and options during her time in public office. Her husband’s recent shopping Paul Pelosi It faces public scrutiny and may affect sales in the near future.
what happened: Pelosi announced that he had sold a portion of it NVIDIA Corporation NVDA He shares in the presentation.
such as reported In congressional trading, Pelosi and her husband sold 25,000 shares of Nvidia Corporation worth between $1 million and $5 million on July 26.
On the register’s comment line, Pelosi said the shares traded at an average price of $165.05 for a loss of $341,365.
Pelosi’s sale came after a public hearing on the implementation of leading semiconductor stock calls made before Congress voted on the CHIPS Act. The CHIPS Act could directly benefit NVIDIA Corporation.
“I think it’s a response to public pressure and a conflict of interest,” the founder of Congresstrading.com, who asked not to be named because of the site’s sensitivity, told Benzinga.
The trade can be called an insider trade, the owner is getting knowledge about the development of the CHIPS law before the trade. Pelosi’s sale comes days after it was announced that a former congressman had been charged by the SEC with insider trading.
“It’s amazing to see the sales. And what’s also amazing here is that she reported the sale a day later. It usually takes her two weeks. She wanted the public to know that she had cleared her books of this conflict of interest.”
Congressmantrading also noted that Pelosi’s filings often come on Fridays, when the media can bury the story over the weekend.
Related link: Congresstrading Highlights Possible Changes, Pelosi’s New Business and Crypto Statements
Why is it important? Paul Pelosi’s recent exercise in call options has drawn public scrutiny and attention from venture capitalists. Michael Bury And Edward Snowden.
Pelosi was recently asked at a press conference about her husband’s stock and alternative activities.
“Did your husband buy or sell shares based on information received from you?” A reporter asked the Speaker of the House.
Pelosi responded, “No, absolutely not,” and then left the stage and ended the questions.
Speaker of the House Nancy Pelosi shares the transaction on Twitter It is mentioned Pelosi’s trading history for NVIDIA Corporation dates back to May 2021. According to the accounts, Pelosi still has 50 options on NVadia Corporation at $100 and expiring on September 16, 2022, purchased on July 23. , 2021.
Because her husband is a venture capitalist, Pelosi has become one of the most active stockbrokers in Congress.
Transactions in big tech stocks like NVIDIA; Microsoft Corporation MSFT, Apple Inc APL And Alphabet Inc GOOGGOOGLE They have been Pelosi’s favorites over the past two years. Investment in Tesla Inc TSLA He conducted an early investigation of the Clean Energy Initiative and the Electric Vehicle Tax Credit.
An investment in Visa Inc V The IPO and the credit card company’s attempts to influence the congresswoman have been a story over the years.
Pelosi recently sold 5,000 Visa shares purchased at the IPO price, making a profit of $1,827,300.
NVDA Price Action: Nvidia shares are up 5% to $173.40 on Wednesday.
Photo: Images from the Financial Times and Gage Skidmore on Flickr