Nancy Pelosi, the former Speaker of the House, has disclosed recent stock trades made by her husband, Paul Pelosi. The trades include significant investments in AI-related companies and the sale of shares in Tesla and Visa.
Key Takeaways
- Paul Pelosi purchased shares of Nvidia and call options on Broadcom.
- He sold shares of Tesla and Visa.
- The trades were made between June 24 and July 1.
- Trading activity by members of Congress has been under scrutiny.
Details of the Trades
Paul Pelosi, an investment professional, has increased his exposure to the booming AI sector. According to disclosures filed by Nancy Pelosi, the trades made between June 24 and July 1 include:
- Broadcom Call Options: Purchased 20 call options with an $800 strike price and an expiration date of June 20, 2025. The trade value is estimated between $1 million and $5 million.
- Nvidia Stock: Purchased 10,000 shares, with a trade value between $1 million and $5 million.
- Tesla Stock: Sold 2,500 shares, with a trade value between $250,000 and $500,000.
- Visa Stock: Sold 2,000 shares, with a trade value between $500,000 and $1 million.
Scrutiny and Controversy
Trading activity by members of Congress and their spouses has come under increasing scrutiny in recent years. Critics argue that lawmakers have access to sensitive or non-public information that could influence their trading decisions. This has led to calls for banning Congress members from trading individual stocks.
However, Nancy Pelosi has consistently opposed such legislation. In December 2021, she stated, "We are a free-market economy. They should be able to participate in that." In July 2022, she denied that her husband had made stock trades based on information she shared with him, saying, "Absolutely not."
Market Impact
The tracking of trades made by Nancy Pelosi and other members of Congress has led to the creation of several exchange-traded funds (ETFs) that mimic these trades. So far, these ETFs have shown impressive performance, reflecting the market’s interest in the trading activities of lawmakers.
Conclusion
The recent disclosures by Nancy Pelosi highlight the ongoing debate over the ethics and legality of stock trading by members of Congress and their families. As scrutiny continues, the market will be watching closely to see how these trades perform and whether any new regulations will be introduced.
Sources
- Nancy Pelosi disclosed stock market trades made by her husband. He loaded up on AI plays like Nvidia and sold Tesla., markets.businessinsider.com.