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She-wolf of Wall Street: Nancy Pelosi’s $5mn stock market gamble

by Admin
January 9, 2024
in News, Politics, World
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Published: January 9, 2024 5:20 pm
Author: RT

The former US House speaker has returned to investing, despite a previous trading controversy

Nvidia’s stock reached a record high after the chipmaker introduced new desktop graphics processors that make use of artificial intelligence. The company’s shares rose by 6.4% on Monday and continued to gain on Tuesday, trading above $535 per share as of 17:00 GMT. The surge was fueled by the unveiling of the GeForce RTX 40 SUPER Series, which is designed for gaming enthusiasts.

In a noteworthy coincidence, Former US House Speaker Nancy Pelosi made a substantial entry into the market by purchasing $5 million worth of call options for Nvidia. This strategic move has attracted the attention of investors, who closely scrutinize Pelosi’s trading activities given her notable track record of success. Furthermore, her husband, venture capitalist Paul Pelosi, has historical connections with the company.

Earlier, Reuters revealed that Paul Pelosi had divested his Nvidia stock in July, in an apparently strategically timed move, before the House deliberated on legislation concerning subsidies and tax credits aimed at fortifying the US semiconductor industry.

$NVDA TO THE MOON!!! https://t.co/B1a86W00qw

— firsttradernews (@firsttradernews) December 22, 2023

Despite this prior divestment, the Pelosis are once again making waves in the market. With Nvidia’s shares seeing an exceptional surge of 227% this year, Nancy Pelosi has re-entered the fray, acquiring 50 call options with a strike price of $120. 

The disclosure of this latest investment comes from the Congresstrading account on X (formerly Twitter), recognized for meticulously tracking the stock trades of lawmakers on Capitol Hill. Financial analysts interpret the Pelosis’ investment in Nvidia as a bullish move for this year. Call options confer the holder the right, though not the obligation, to purchase a specific quantity of an underlying asset at a predetermined price within a specified timeframe.

Yesterday Nancy Pelosi and her husband traded Nvidia, $NVDA calls.

I want to give you the history of this trade and show the arrogance of Congress.

Her Nvidia calls show that Nancy Pelosi once again believes politicians should be able to trade (and in size).

Let’s start in… pic.twitter.com/NwmyNAGgY7

— unusual_whales (@unusual_whales) December 23, 2023

Despite past criticism for resisting calls to enact legislation preventing members of Congress and their spouses from trading the stocks of companies that they regulate, Pelosi and her husband persist as active stock traders. The Pelosis, boasting a reported net worth exceeding $140 million, have previously profited from strategic investments in call options for blue-chip stocks such as Google, Salesforce, Roblox, and Disney.

The timing of Pelosi’s recent Nvidia investment has not gone unnoticed, with some observers highlighting her decision to disclose the transaction on the Friday before the Christmas weekend, possibly in an effort to avoid extensive media coverage.

Nancy Pelosi just bought $5 million worth of Nvidia $NVDA call options pic.twitter.com/jEqclUfS9m

— Barchart (@Barchart) December 23, 2023

The Pelosis’ continued engagement in stock trading, particularly in companies affected by legislation that the former House speaker can endorse, has intensified calls for stringent regulations that would ban members of Congress and their spouses from participating in such trading. The recent investment in Nvidia, coupled with previous controversies, has further fueled debate on the ethics of stock trading by lawmakers.

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