Nancy Pelosi Sells Chip Stock For Massive Loss After Backlash, Reports ‘Total Loss Of $341,365
Nancy Pelosi’s husband Paul just took a rare and massive loss in the stock market after Nancy came under intense criticism for his trades. According to the Nancy Pelosi Stock Tracker Twitter account:
“Speaker Pelosi just sold 25,000 shares of $NVDA for an average price of $165.05 on 7/26/22. This is the first time Pelosi has ever reported a trade the same day say she made it. On the filing, she commented: “for a total loss of $341,365.”
“Timeline: 5/21/21 – Purchased 200 LEAPS with an exp date of June 2022. 7/23/21 – Purchased 5,000 shares at $195.58. 7/23/21 – Purchased 50 LEAPS with an exp. date of Sept. 2022. 6/17/22 – Purchased 20,000 shares at $100 (exercised 200 calls). 7/26/22 – Sold 25,000 shares at $165.
“Still owns: 50 LEAPS at a Strike Price of $100 and an exp. date of 9/16/22. At the time of the purchase, $NVDA was $195.98. These LEAPS were bought back on 7/23/21.”
Senator Josh Hawley (R-MO) said earlier: “Ban stock trading by members of Congress & their spouses. Call it the Pelosi Act.”
Hawley said: “It’s time to stop turning a blind eye to Washington profiteering. Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they’re supposed to be regulating. Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other at the expense of the country.”
A spokesperson for Pelosi said:
“The Speaker does not own any stocks. As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse.
“The Speaker has no prior knowledge or subsequent involvement in any transactions,” the spox said.
According to The Daily Caller:
“Nvidia is a multinational corporation that designs and manufactures graphics processors and other technology, and is heavily reliant on semiconductors.
“The House passed a bill in February that included $52 billion in domestic subsidies for the semiconductor industry, and chip companies, including Nvidia, demanded Congress in June move forward on finalizing semiconductor subsidies for domestic manufacturing.
Source: pic.twitter.com/KMthLI8cV7
— Nancy Pelosi Stock Tracker (@PelosiTracker_) July 27, 2022
Timeline:
— Nancy Pelosi Stock Tracker (@PelosiTracker_) July 27, 2022
5/21/21 – Purchased 200 LEAPS with an exp date of June 2022
7/23/21 – Purchased 5,000 shares at $195.58
7/23/21 – Purchased 50 LEAPS with an exp. date of Sept. 2022
6/17/22 – Purchased 20,000 shares at $100 (exercised 200 calls)
7/26/22 – Sold 25,000 shares at $165