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Paul Pelosi, husband of Speaker Nancy Pelosi, seems to win even when he loses, or at least that is what his stock market results indicate, which suspiciously seem to always respond to decisions made by Congress or the Government.
Paul Pelosi was last in the eye of the storm when it was discovered that he had bought up to $5 million in stock in graphics card maker Nvidia Corp. weeks before Congress passed the “Chips Act,” which provides up to $280 billion in subsidies to microchip makers, of which Nvidia would be one of the recipients.
Paul Pelosi’s stock purchase gained the attention of the media, which again suspected a case of insider trading by the congresswoman. Apparently, press pressures caused Paul Pelosi to sell his Nvidia shares before the Chips Act was ratified in Congress, causing him to lose more than $341,000.
However, in light of the new evidence, it is possible that even the stock sale is just another case of inside trading by Nancy Pelosi’s husband.
Nvidia Corp. announced that it could lose as much as $400 million this half-year after the U.S. imposed a new licensing requirement to export its most advanced microchips to China. Nvidia, which is the largest chipmaker by market size, says the new requirement could affect a market worth up to $5.9 billion a year.
The mandate is not limited to Nvidia, it extends to the entire U.S. semiconductor manufacturing sector, and seeks to prevent U.S. microchip technologies from reaching China or Russia and being used for military purposes.
As a result of the new White House mandate, Nvidia’s shares fell by 5% on Wednesday.
The funny thing here is that Paul Pelosi, with Wednesday’s drop, could have saved himself a loss of up to $600,000 by selling his Nvidia stock prematurely. Was he warned by his wife, or just got lucky again?
Remember when Pelosi sold 25,000 shares of $NVDA back in July?
The Pelosi's saved ~$600,000 of losses by selling their shares
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) August 31, 2022
Nancy Pelosi’s husband was accused of insider trading in 2021 when he bought a million-dollar amount of Amazon stock, just before it was announced that the Pentagon would initiate a contract with the Retail and Cloud Computing giant for more than $10 billion.
So much is the “luck” of Nancy Pelosi’s husband, that there are trading applications that follow his movements in the stock market, because a stock in which Paul Pelosi invests, a stock that will be valued in a matter of days, almost always because of a legislative act in Congress or because of some news related to the Government.
Once again, Paul Pelosi proves that being married to a congresswoman is an excellent business, both to make money and to avoid losing it.
Economist, writer and liberal. With a focus on finance, the war on drugs, history, and geopolitics // Economista, escritor y liberal. Con enfoque en finanzas, guerra contra las drogas, historia y geopolítica