Paul Pelosi unloaded $5 million worth of Nvidia stock before House decision to subsidize the industry
Speaker Nancy Pelosi’s drunk-driving husband, Paul Pelosi, just sold off nearly $5 million worth of Nvidia stock mere days before the House is set to make a decision on subsidizing the chip-making industry.
From the Epoch Times:
In a periodic transaction report signed on Tuesday, Pelosi disclosed that her husband sold 25,000 shares of Nvidia at an average price of $165.05 with a total loss of $341,365.
In total, the shares are worth between $1 million and $5 million.
According to an earlier filing this month (pdf), Paul Pelosi exercised 200 call options, or 20,000 shares, of Nvidia at a strike price of $100 and expiration of June 17, 2022, worth between $1 million and $5 million.
Paul Pelosi is the owner and operator of a San Francisco real estate and consulting firm, and Nancy Pelosi frequently denies that his financial decisions are at all influenced by her and her insider knowledge.
However, the Pelosi clan is obscenely wealthy and frequently it appears that Paul Pelosi has insider tips due to how lucrative his trades are.
This is no exception. Her latest filing, which revealed her husband’s move to selling stock from the chip manufacturing giant, came just a single day before the Senate voted in favor of subsidizing the chip industry and a few days before the House will vote on the same issue.
If passed, a staggering $52 billion will go towards microchip manufacturing.
The Pelosi spokespeople deny that Paul and Nancy communicate on these matters until after the trades have been finalized. Still, it is awfully convenient, almost sage-like, how often Paul Pelosi ‘just so happens’ to buy and sell before House votes which increase the value of his transactions.