Paul Pelosi, husband of House Speaker Nancy Pelosi (D-CA), saved 20% by selling Nvidia stock ahead of new U.S. restrictions, according to a new report.
The trades included unloading 25,000 shares of the semiconductor manufacturer's stocks.
NEW: Paul Pelosi dodged an extra 20% loss selling Nvidia stock in July before August US restrictionshttps://t.co/wM2EPqRXzI
— Houston Keene (@HoustonKeene) September 1, 2022
"The Pelosi's reported selling before the CHIPS+ Bill was passed. There was a loss of $341,365 on their $NVDA sale," the Twitter account Unusual Whales wrote.
"If they sold yesterday, their position would be down 20% more, due to the China & Russia restrictions. Unusual," it added.
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.
Unusual.
See politicians trade: https://t.co/lodTLftEbF https://t.co/QA2dT0R31L
— unusual_whales (@unusual_whales) September 1, 2022
The report comes as Congress has continued to discuss concerns about stock trading among lawmakers and their family members. Though legislation has been proposed to put a stop to the action that could take advantage of insider information, Pelosi has yet to make it a priority.
The concerning conflict should be addressed, and soon, but is unlikely to receive attention ahead of November's midterm elections.