Traders take notice — the Pelosis are making moves…
As previously reported on The Drill Down, the Pelosis have impeccable timing when it comes to buying and selling stocks, leading many to assume, with strong evidence, that the former House Speaker may be leveraging insider access and information to make big bucks.
“The Pelosis participated in at least 10 IPOs,” Government Accountability Institute President and bestselling author Peter Schweizer told Jesse Watters on Fox News last year. “The fact that a politician’s family is allowed to participate in an investment that when it goes public generally doubles in value is a real indicator that there’s a problem.”
Now, according to a New York Post report, Nancy and Paul Pelosi are betting big on multinational technology company Nvidia to make some serious cash for them. This is after the Pelosis sold Nvidia stock for a loss last year under intense scrutiny during CHIP Act negotiations.
But now, under cover of the holiday news dump, they are back at it.
“Pelosi bet millions on $NVDA in November using call options. Using a deceptive tactic, she purposely disclosed this on the Friday before Christmas weekend to avoid media coverage,” Congresstrading tweeted.
A call option “grants the holder the right, but not the obligation, to buy a specific quantity of an underlying asset at a predetermined price within a specified time frame,” Justin Rush, a financial planner with the Michigan-based family wealth management firm Nemes Rush, told The Post on Monday.
“This can be advantageous when you anticipate the value of the asset will rise, allowing you to buy it at a lower, predetermined cost,” he added.
“The X account known as Congresstrading, which tracks stock trades executed by lawmakers on Capitol Hill, published a screenshot of a disclosure form that showed that Pelosi, the San Francisco Democrat, and sitting congresswoman, bought 50 call options with a strike price of $120 and an expiration date of Dec. 20, 2024,” NYPreports.
While a handful of lawmakers have pushed to ban members of Congress and their family members from trading, no one bill has gained enough support on the Hill.
As a quick reminder, the STOCK Act was signed into law in 2012 with substantial bipartisan support following the release of the Government Accountability Institute president Peter Schweizer’s book Throw Them All Out. Schweizer’s book uncovered an epidemic of lawmakers, from both parties, leveraging knowledge acquired while in office to make insider stock trades.
