Long known for her family’s suspiciously prolific successes in the realm of stock trading, Rep. Nancy Pelosi (D-CA) recently disclosed a major sell-off of holdings in a number of high-profile companies, as Tipranks.com reports.
The outlet noted that information on Pelosi’s year-end stock dump was gleaned from the Congress Trading database, known for tracking the securities trades of prominent lawmakers.
According to Congress Trading and the congressional disclosure forms it analyzed, Pelosi recently sold a substantial amount of Google stock with a value between half a million and a million dollars.
The former House speaker also ditched 1,000 shares in Netflix, valued at upwards of $500,000.
Also leaving the list of Pelosi’s holdings were 5,000 Telsa shares and 10,000 Disney shares, significant trades even for high rollers like Nancy and Paul Pelosi.
The impressive gains realized by the Pelosis in the stock market over the years have been the subject of much discussion, often drawing the interest of amateur investors on Twitter, Reddit, TikTok and YouTube and forming the basis of humorous memes, as the Epoch Times noted last year.
As Tipranks observed, some of the aforementioned market watchers have referred to the California Democrat as “the stock market’s biggest whale” as well as something of a “psychic” and have also taken note of the staggering scope of the securities trading wins seen by her husband, Paul.
With regard to her late 2022 sell-off, it has been suggested, according to Tipranks, that due to losses of roughly $2.5 million sustained by Pelosi in the final weeks of last year, the decision to unload the aforementioned shares is a move designed to minimize tax liabilities going forward.
Though Pelosi’s recent stock sales may have a perfectly reasonable tax mitigation rationale behind them, that is not to say that every market movement she and her husband have made in recent years has been free from skepticism.
Last summer, for instance, Paul Pelosi drew substantial scrutiny – and even scorn – for snapping up millions of shares in a computer chip firm just as the Senate was poised to vote on subsidies likely to boost its prospects greatly, as the Daily Caller reported at the time.
According to a financial disclosure report, on June 17 of last year, Paul Pelosi bought 20,000 shares of a firm called Nvidia, which is among the world’s most prolific makers of semiconductors, and while that type of buy might not be especially noteworthy for someone of his wealth and trading experience, the fact that the Senate was imminently set to vote on a package that would be a financial boon to the company raised more than a few eyebrows, given his wife’s insider status in D.C.
At the time, Rep. Ralph Norman (R-SC) stated that the “optics” of the stock move were “horrible” and noted, “[o]bviously, Speaker Pelosi would be aware of the timing of this legislation over in the Senate. On the heels of that vote, for anyone in her orbit to purchase seven figures worth of stock of a U.S.-based chip manufacturer just reeks of impropriety.”
Even liberal think tank Public Citizen seemed to agree, with Craig Holman of the group stating, “It certainly raises the specter that Paul Pelosi could have access to some insider legislative information. This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then is followers to likewise.”
Now that Nancy Pelosi no longer sits atop her longtime perch of power in the House and is just a backbencher representing her San Francisco district, it will be interesting to see whether there are any appreciable changes in her – or her husband’s – securities trading behavior.