When Paul Pelosi, husband to House Speaker Nancy Pelosi (D-Calif.), sold off 25,000 shares of Nvidia stock in July, he avoided an additional 20 percent loss by doing so a month before the federal government imposed restrictions on the company’s dealings with China and Russia, according to documents.
As American Wire News reported in July, Paul Pelosi purchased 20,000 shares of Nvidia, one of the world’s largest semiconductor companies, on June 17, a month before the senate voted on a competition bill that would allocate $52 billion to boost semiconductor manufacturing in the States.
Nancy Pelosi’s husband buys millions in chip stocks right before vote on massive chip subsidy https://t.co/Dsb8vun7qQ
— American Wire News (@americanwire_) July 16, 2022
The ensuing backlash over the questionable timing of Paul’s purchase led the Speaker’s husband to dump 25,000 shares of Nvidia on July 27, ahead of the CHIPS bill, but according to Unusual Whales, his loss would have been even greater had he held on to his shares and sold them at the end of August, after the feds placed its restrictions on the company.
“On July 27th, Nancy & Paul Pelosi sold all 25,000 of their shares of Nvidia, $NVDA,” Unusual Whales tweeted on Wednesday. “Today $NVDA was told to restrict chip sales in China & Russia by the US Government on August 26.”
“$NVDA is down 20% since their initial sale, -5% in after hours today,” the trading platform continued. “Unusual.”
On July 27th, Nancy & Paul Pelosi sold all 25,000 of their shares of Nvidia, $NVDA.
Today $NVDA was told to restrict chip sales in China & Russia by the US Government on August 26. $NVDA is down 20% since their initial sale, -5% in after hours today.
— unusual_whales (@unusual_whales) August 31, 2022
In a follow-up tweet on Thursday, the Whales noted that the Pelosis’ loss could have been much greater, but again, timing was everything.
“The Pelosi’s reported selling before the CHIPS+ Bill was passed,” they tweeted. “There was a loss of $341,365 on their $NVDA sale.”
“If they sold yesterday, their position would be down 20% more, due to the China & Russia restrictions,” they continued, again adding the loaded word, “Unusual.”
The Pelosi’s reported selling before the CHIPS+ Bill was passed.
There was a loss of $341,365 on their $NVDA sale.
If they sold yesterday, their position would be down 20% more, due to the China & Russia restrictions.
See politicians trade: https://t.co/lodTLftEbF https://t.co/QA2dT0R31L
— unusual_whales (@unusual_whales) September 1, 2022
Naturally, according to Nancy Pelosi’s spokesperson, Drew Hammill, the fortuitous timing of the sale had nothing to do with the U.S. government’s restrictions a month later.
“Mr. Pelosi bought options to buy stock in this company more than a year ago and exercised them on June 17, 2022,” Hammill told Fox News Digital. “As always, he does not discuss these matters with the speaker until trades have been made and required disclosures must be prepared and filed.”
“Mr. Pelosi decided to sell the shares at a loss rather than allow the misinformation in the press regarding this trade to continue,” he added.
When asked by Fox in July if her spouse’s stock purchases were predicated on financial information from Capitol Hill, Nancy Pelosi stated categorically, “No. Absolutely not.”
Online, few are buying what the Pelosis are trying so hard to sell.
Classic #InsiderTrading by #PaulPelosi with #NancyPelosi as the criminal insider. Where is the Congressional investigation? Where is the SEC investigation into insider trading? Where are the wiretaps? https://t.co/s0aVQdRqgr
— ULTRA MAGA (@OCDeplorable) September 1, 2022
Nothing to see here at all https://t.co/w6A1316VPv
— St. Charlie (@FrenchmenPod) September 1, 2022
It’s especially brazen given how many people are watching their trades – and the millions made from their really exceptional foresight
— kristen shaughnessy (@kshaughnessy2) September 1, 2022
Teflon politicians…insider trading just doesn’t stick
— Linda (@ReigningCoins) September 1, 2022
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