Nancy Pelosi Buys $2M Worth of AI Software Stock Despite Congressional Trading Backlash: Report
Nancy Pelosi and her husband reportedly purchased $2 million worth of AI software stock last month.
Nancy Pelosi and her husband reportedly purchased $2 million worth of AI software stock last month, RadarOnline.com has learned.
In a surprising development to come as American lawmakers continue to face backlash for purchasing and trading stocks that may potentially be affected by new legislation, it was revealed that Nancy and Paul Pelosi bought $2 million worth of Nvidia stock in November.
According to Congresstrading.com, the former House speaker and her husband bought the $2 million worth of Nvidia stocks via call options that are set to expire on December 20, 2024.
The website also suggested that Pelosi “purposely disclosed” the Nvidia stock purchase during the holiday weekend to “avoid media coverage.”
“Pelosi bet millions on $NVDA in November using call options,” the website revealed last week. “Using a deceptive tactic, she purposely disclosed this on the Friday before Christmas to avoid media coverage.”
“Nancy Pelosi and her husband have purchased $2 million of Nvidia, $NVDA, call options,” the stock-trading news website Unusual Whales echoed on Sunday. “You read that right.”
Nancy and Paul Pelosi bought $2 million worth of Nvidia stock in November.
“The Pelosis purchased leveraged bets over a company they legislate, after divesting from $NVDA in 2022,” the site added. “Merry Christmas!”
According to financial planner Justin Rush, 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.”
“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 explained to the New York Post this week.
Meanwhile, the Post revealed that this would not be the first time the Pelosis traded Nvidia stocks.
DAILY. BREAKING. CELEBRITY NEWS. ALL FREE.
Pelosi: 'I think some financing should be investigated.'
According to financial disclosure reports, the Democratic congresswoman and her husband made more than $4 million in July 2022 after they sold 25,000 shares of Nvidia at more than $165 per share.
The July 2022 Nvidia trades came just days before Congress passed the CHIPS Act – a piece of legislation implemented to help boost domestic semiconductor manufacturing and, as a result, Nvidia.
Never miss a story — sign up for the RadarOnline.com newsletter to get your daily dose of dope. Daily. Breaking. Celebrity news. All free.
As RadarOnline.com previously reported, Nancy Pelosi initially came under fire when she refused to introduce legislation that would prohibit sitting members of Congress from buying and selling stock in companies that they also regulate.
While Pelosi appeared to express support for such regulations in January 2022, it was later revealed that she purchased up to $1.5 million buy option shares of Apple Inc. and hundreds of thousands of buy option shares in Microsoft Corp.
Pelosi came under fire last year when she refused to introduce legislation that would prohibit sitting members of Congress from buying and selling stock in companies that they also regulate.
"I just don't buy into it, but if members want to do that, I'm OK with that," Pelosi said about possible legislation that would prohibit congressional lawmakers from purchasing and selling individual stocks.
“I have great confidence in the integrity of my members,” she added at the time.
Powered by RedCircle