Paul Pelosi cut his losses on Nvidia in July amid intense scrutiny — and was abl...
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Paul Pelosi cut his losses on Nvidia in July amid intense scrutiny — and was able to sidestep another 16% plunge prior to US sanctions on chip sales
If Keith Gill and wallstreetbets are names that excite you in the investing world, there’s one more you may want to add to your watch list: Nancy Pelosi.
Pelosi is one of the most prominent figures in U.S. politics, currently serving as the Speaker of the House. But the 82-year-old — alongside her venture capitalist husband Paul who does most of the trading — also loves participating in the stock market.
Of course, even politicians don’t have a 100% win rate.
A public disclosure in July showed that Paul Pelosi sold his shares in microchip giant Nvidia for a substantial six-figure loss. The sale came amid intense scrutiny over Paul’s purchase of Nvidia right before the $52 billion chip subsidy vote.
That said, recent developments suggest that Paul Pelosi’s sale of Nvidia worked wonderfully in his favor.
Here’s a closer look at the trade — and another Pelosi move that likely resulted in a seven-figure profit.
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Nvidia (NVDA)
As a leading designer of graphics cards, Nvidia shares have had a solid bull run over the past decade. But that rally came to an abrupt stop towards the end of 2021. In 2022, the stock has fallen over 50%.
Nvidia’s plunge is substantial even when compared to other beaten-down stocks in the semiconductor sector.
On June 17, Paul Pelosi exercised 200 call options on Nvidia (that were expiring on June 17) at a strike price of $100, valued at between $1 million and $5 million.
Then, on July 26, Paul Pelosi sold 25,000 shares of Nvidia at an average price of $165.05. According to a public disclosure, the transaction resulted in “a total loss of $341,365.”
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