By
Burroughs
|
December 27, 2023

Pelosis Betting Big on NVIDIA Stock Despite Concerns Over Stock Trading

Former House Speaker Nancy Pelosi and her venture capitalist husband have re-entered the investment arena with AI software giant Nvidia, as revealed in recent filings.

This move follows their prior divestment from the company amid heightened scrutiny of congressional stock trading practices.

According to disclosures reported by the Congressional stock trading tracker account known as Congresstrading, Pelosi, a Democrat from San Francisco and a sitting congresswoman, purchased 50 call options of Nvidia with a strike price of $120 and an expiration date of December 20, 2024.

The transaction, valued at $2 million, occurred last month, as detailed by stock-trading news site Unusual Whales. The disclosed amount on the form ranged between $1 million and $5 million.

Congresstrading took to Twitter to highlight Pelosi's investment strategy, accusing her of intentionally disclosing the move on the Friday before Christmas weekend to avoid media attention.

Nancy Pelosi, 83, faced criticism during her tenure as House Speaker for resisting calls to enact legislation preventing sitting members of Congress and their spouses from engaging in stock trading involving companies under congressional regulation.

Financial experts interpret the Pelosis' investment as a bullish stance on Nvidia for the coming year.

Call options, as explained by financial planner Justin Rush, grant the holder the right to buy an underlying asset at a predetermined price within a specified time frame, providing an advantage when anticipating an increase in the asset's value.

Paul Pelosi, a notable trader, and the couple, with a reported net worth exceeding $140 million, have realized substantial profits from previous call options on blue-chip stocks like Google, Salesforce, Roblox, and Disney.

In July of the previous year, the Pelosi family sold 25,000 shares of Nvidia at an average price of $165.05 per share, resulting in a sale price of $4.125 million.

They incurred losses of $341,365 on the trade, as reported by financial news site Benzinga. The couple also sold 50 call options on Nvidia for a loss of $361,476.

These moves attracted attention as Nvidia's shares rose leading up to Congress voting on the CHIPS Act, the Biden administration's legislation supporting domestic semiconductor manufacturing.

Don't Wait
We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:
Top stories
Newsletter
Get news from American Digest in your inbox.
By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, http://americandigest.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.