Backlash Mounts as Pelosi and Husband Invest $2 Million in Nvidia

Nancy Pelosi, former House Speaker, and her husband, Paul Pelosi, have come under scrutiny for investing $2 million in Nvidia stock.

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Adding To The Controversy

This revelation adds to the ongoing controversy surrounding American lawmakers’ stock trading activities, which could be influenced by their legislative decisions.

The Pelosi Investment

According to Congresstrading.com, the Pelosis purchased $2 million worth of Nvidia stocks through call options, with these options set to expire on December 20, 2024.

Avoiding Media Attention

Critics have suggested that Pelosi intentionally disclosed this purchase during the holiday weekend to evade media attention.

Details of the Investment

The stock-trading news website, Unusual Whales, confirmed the Pelosis’ $2 million investment in Nvidia call options, emphasizing the significance of this move, considering that they had previously divested from Nvidia in 2022.

Understanding Call Options

Call options grant the holder the right to buy a specific quantity of an asset at a predetermined price within a specified timeframe, which can be profitable if the asset’s value is expected to rise.

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Previous Nvidia Trades

This is not the first time the Pelosis have traded Nvidia stocks. In July 2022, they reportedly sold 25,000 shares of Nvidia for over $165 per share, resulting in profits exceeding $4 million.

Shortly Before CHIPS Passage

Interestingly, these trades occurred shortly before Congress passed the CHIPS Act, legislation aimed at boosting domestic semiconductor manufacturing, benefiting companies like Nvidia.

Pelosi’s Stance on Stock Trading

Credit: House Speaker Nancy Pelosi, D-Calif., has launched her campaign for reelection to her San Francisco-based congressional seat. Eric Pool / Getty Images

Nancy Pelosi faced criticism when she initially declined to introduce legislation prohibiting members of Congress from trading stocks of companies they also regulate.

Previous Instances of Impropriety

Credit: BANGKOK, THAILAND – NOVEMBER 2018 : Closeup Apple logo In front of Apple store with reflection glassed at the iconsiam on November 11, 2018 in bangkok, Thailand, Apple already launch its first Thai store at IconSiam. — Photo by Tzido

Although she expressed support for such regulations in January 2022, subsequent revelations showed her investments in Apple Inc. and Microsoft Corp. stock options, raising questions about potential conflicts of interest.

Pelosi’s Response

Credit: Nancy Pelosi by Chip Somodevilla / Getty images

In response to the controversy, Pelosi stated, “I just don’t buy into it, but if members want to do that, I’m OK with that,” regarding legislation that would restrict congressional lawmakers from trading individual stocks. She expressed confidence in the integrity of her fellow members despite growing concerns.