Pelosi's Husband Dumps His NVIDIA Stock One Day Before Congress Set to Pass "CHIPS-Plus" Bill
Paul Pelosi, husband to Speaker of the House Nancy Pelosi, sold all of his NVIDIA stock just one day before Congress was set to vote on a bill that would boost domestic production of semiconductors.
Paul Pelosi, bought up to $5 million in stock options in a computer-chip company back in June.
Paul Pelosi bought anywhere between $1 to $5 million in Nvidia stock options.
On Tuesday, Mr. Pelosi dumped all of his NVIDIA stock and suffered a loss of $341,365, according to Insider.
Insider reported:
- Speaker of the House Nancy Pelosi husband, Paul Pelosi, has sold all of his stock in NVIDIA on Tuesday as Congress is set to pass the “CHIPS-plus” bill.
- Paul Pelosi sold between $1 million and $5 million worth of NVIDIA stock, or 25,000 shares, at an average price of $165.05 on July 26, according to a mandatory congressional financial disclosure filed Tuesday by the speaker. Members of Congress are only required to report the values of their trades in broad ranges.
- The disclosure states that by selling the shares, Paul Pelosi suffered a “total loss of $341,365.”
- This disclosure of a financial loss is notable because Nancy Pelosi, a Democrat from California, rarely volunteers such detailed information about her husband’s stock and stock option trades.
Nancy Pelosi last Thursday denied her husband has ever made a stock purchase or sale based on information he received from her.
“Has your husband ever made a stock purchase or sale based on info received from you?” a reporter asked Pelosi during her weekly briefing.
“No! Absolutely not, okay, thank you,” Pelosi said as she walked away from the lectern.
The Senate on Wednesday morning passed the “CHIPS-plus” bill which is supposed to boost domestic production of semiconductors.
The bill will head to the House of Representatives and then to Joe Biden’s desk for a signature.
“The package includes more than $52 billion for U.S. companies producing computer chips, as well as a tax credit for investment in chip manufacturing. It also provides funding to spur the innovation and development of other U.S. technologies.” CNBC reported.
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