A recent report by Benzinga reveals that Democrat Representative Nancy Pelosi (D-CA) has garnered substantial financial gains from a contentious stock transaction she executed in late 2020. Specifically, Pelosi has amassed close to $500,000 in profits through her investment in the technology company Nvidia Corp.
“As of early 2024, Pelosi has reportedly made nearly $500,000 from this investment, surpassing her annual government salary of approximately $223,500,” the outlet reports.
“This gain is attributed to Nvidia’s stock performance, which has seen an increase of over 21% in value since Pelosi’s acquisition, according to Finbold.”
In November of last year, Pelosi made an investment in Nividia based on her access to insider trading information.
“The former House speaker bought Nvidia call options on Nov. 22 — her largest stock purchase in the last three years, according to stock trading news site Unusual Whales,” Moneywise reports.
“According to a disclosure form obtained by Unusual Whales and congresstrading.com, Pelosi purchased 50 call options with a strike price of $120 and an expiration date of Dec. 20, 2024 — with a potential capital gain of up to $5 million.”
Pelosi kept the stock purchase undisclosed until shortly before Christmas, leading to speculation that it was intentionally done to evade media attention.
For example, Congresstrading.com stated, “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.”
Pelosi and her spouse have encountered considerable examination regarding their stock transactions. Throughout the years, the Pelosis have amassed millions through the stock market, leading some to question whether their remarkable success is merely a series of fortunate events.
The allegation, naturally, implies that Pelosi has been capitalizing on confidential information she has gained as a congressional representative. The acquisition of Nvidia serves as just one instance among numerous others.
It has been previously reported that: “Former Speaker of the House Nancy Pelosi’s husband bought stock options in semiconductor company Nvidia even as the Biden administration looks to hand out subsidies to boost the industry.”
The outlet later adds:
“Paul Pelosi made a previous purchase in June 2022 of up to $5 million in Nvidia stock the month before a Senate vote on the subsidy bill.
Ethics expert Craig Holman expressed concern that the convenient timing of the trade “raises the specter” that Pelosi could have access to insider information.” The corporate media allies of the Democrats and their self-proclaimed “fact-checkers” frequently come to the defense of the Pelosis when it comes to their trades.
According to the media, Paul Pelosi is regarded as a skilled stock trader who possesses an almost clairvoyant ability to predict the future, surpassing even the most experienced traders on Wall Street. The “fact-checkers” argue that the Pelosis cannot be accused of insider trading since they supposedly do not engage in private discussions regarding stock trades.
It is worth noting that Pelosi is not the only member of Congress who has faced such criticism. As a result, there have been calls for legislation to either prohibit or impose restrictions on stock trading by members of Congress.
