Nancy Pelosi's Husband Made Some Big Tech Purchases In May And June: Here Are The Details

Nancy Pelosi's Husband Made Some Big Tech Purchases In May And June: Here Are The Details

House Speaker Nancy Pelosi, one of the most well-known members of the United States political picture, and her husband made several purchases of big technology stocks in the months of May and June. One purchase caught the eye of retail traders as it came ahead of some big news that could impact the price of the stock.

What Happened: Nancy's husband Paul runs a venture capital firm, which makes their case a little unique as he may buy and sell stocks based on his own catalysts. New trades unveiled by Congresstrading.com show it may have been Paul who made the purchases, signaled by the letters SP for spouse.

Here are the recently disclosed purchases:

  • May 21: purchased 20 calls (June 17) of Amazon.com Inc AMZN at a strike price of $3,000, valued at $500,000 to $1 million.
  • May 21: purchased 50 calls (June 17) of Apple Inc AAPL at a strike price of $100, valued at $100,000 to $250,000.
  • June 3: purchased 50 calls (June 17) of NVIDIA Corp NVDA at a strike price of $400, valued at $1 million to $5 million.
  • June 18: exercised 40 calls at $1,200 of Alphabet Inc. GOOGGOOGL valued between $1 million and $5 million.

The purchase of Amazon calls could be of particular note since it came ahead of the Pentagon canceling a cloud contract for Microsoft Corporation MSFT. It's believed Microsoft and Amazon may now each get a piece of the cloud contract worth over $10 billion.

Some are questioning whether Pelosi knew this was going to happen prior to the purchase of Amazon calls.

“This presents a crystal clear conflict – like many of the other trades she and her husband have engaged in,” the founder of Congresstrading.com told Benzinga earlier this year. The founder of the site, who wished to remain anonymous due to the sensitive nature of the website, said members of Congress should not be allowed to buy and sell stocks/options.

Related Link: Congressman Barry Moore Buys Dogecoin, Other Cryptos: Here Are The Details 

Why It’s Important: Pelosi and her husband have been active with buying and selling stocks and options. As the Speaker of the House, Pelosi is one of the most well-known members of Congress.

Pelosi has also served as a representative for California since 1987, which could give her favorable relations with members of sub-committees and decision makers.

Earlier this year, the Pelosis purchased $10 million in stocks and options of Microsoft prior to the company being awarded a $22 billion deal from the Pentagon.

The Pelosis also bought calls of Tesla Inc TSLA earlier this year, a position which could benefit with Congress passing new electric vehicle bills. A conflict of interest could be seen with Pelosi passing bills that could benefit stocks her family owns.

Former U.S. Senator David Perdue was criticized for making many stock trades during his six years in Congress. Perdue made 2,596 trades during his time in Congress including some while he was a member of several sub-committees.

Photo: Minority Leader Nancy Pelosi speaking with attendees at a Trump Tax Town Hall hosted by Tax March at Events on Jackson in Phoenix, Arizona. Gage Skidmore / Wikimedia.

Posted In: CongressCongresstradingFANG StocksHouse of RepresentativesNancy PelosiPaul PelosiPentagonPoliticsTop StoriesTechTrading IdeasGeneral