Americans are hardly likely to be shocked to learn that Paul Pelosi, the husband of radical leftist US Representative Nancy Pelosi, who is the Speaker of the US House, has been accused in the media of investing $5 million in stock in a semiconductor maker.
Because this kind of insider trading has become regular for the Napa Valley pair, it won’t come as a surprise that the Pelosi dream team will make this move as Congress prepares to vote on legislation that may benefit the same corporations with $52 billion to semiconductor producers.
The fact that Pelosi and other government employees are utilizing insider information to enrich themselves is so widely known that savvy investors have chosen to imitate the insiders.
“The founder of Reddit’s wallstreetbets forum, Jaime Rogozinski, announced the listing approval of the “Insider Portfolio” on Seychelles’ MERJ Exchange on Tuesday, a fund that tracks the trading strategies of U.S. Congresspeople including U.S. Speaker of the House Nancy Pelosi,” according to a March report from Reuters.
According to unusualwhales.com, a website that sells financial data, the portfolio would routinely rebalance to follow Pelosi’s trading methods based on her public declarations, the outlet said.
According to a research by unusualwhales.com, Pelosi’s stock trading record in 2021 in Congress was sixth-best, with Republican Congressman Austin Scott leading the pack.
Social media platforms frequently discuss how Pelosi insiders profit from their trades, including wallstreetbets, where retail investors came together a year ago to coordinate the purchase of GameStop (GME.N), a retailer of video games, and other companies. These purchases led to the creation of a cottage industry of investors and the term “meme stocks.”
Pelosi was active in the stock market in June, according to a disclosure document submitted to the House of Representatives on July 14. She invested millions in Nvidia Corporation while selling significant amounts of call options and Visa and Apple stock.
Paul Pelosi exercised 200 call options, or 20,000 shares of Nvidia, with a $100 strike price and a June 17, 2022 expiration date. The exercise price was between $1 million and $5 million, according to the document.
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On that same date, her husband also sold 50 call options in Apple at a strike price of $100, with the transaction listed with a value of between $100,000 and $250,000.
Paul Pelosi is a financier whose estimated wealth is north of $100 million. He also sold 10,000 shares of Visa that were worth between $1 million and $5 million on June 21, the recent filing by the Speaker noted.