The husband of House Speaker Nancy Pelosi sold millions of shares in the company a day before the Senate passed a bill to boost U.S. chip manufacturing.
Nancy Pelosi and Paul Pelosi are at a party.
According to the filing, Paul Pelosi sold 25,000 shares of the company for $4.1 million.
The transaction cost Pelosi $341,365.
Pelosi missed out on a large amount of money, as the shares of the company jumped 7.8%.
A June 17 filing shows that Pelosi exercised call options to purchase 20,000 Nvidia shares, as well as 5,000 shares.
Despite Pelosi buying the options a year earlier and exercising them on the day they expired, her trades received a lot of criticism.
Nancy Pelosi sold the shares at a loss rather than allow the misinformation in the press to continue, according to Drew Hammill, her deputy chief of staff.
In June of last year, Pelosi made a $5.3 million windfall after exercising his options, just before the House voted on antitrust actions against Silicon Valley. In March, Pelosi purchased more than $2 million in stock in the company. All trades made by themselves or their immediate family are required to be made public. A bill was introduced in January that would prohibit members of Congress and their family members from owning individual stocks. Pelosi told a reporter last week that her husband never traded information she gave him.
Last week, Sen. Josh Hawley called for a hearing to investigate alleged insider trading from lawmakers and their families. In a letter to the head of the Senate Homeland Security and Governmental Affairs Committee, Hawley wrote that Speaker Pelosi and her husband remained undeterred from cashing in
A Nancy Pelosi stock tracker account on social media has 88,000 followers and has generated millions of views.
The Senate passed a bill that would boost U.S. chip production.
Pelosi exercises stock options to buy $2 million in shares of the company.
Nancy Pelosi's husband's $5 million options windfall is inside.
All Rights Reserved © 2024
