Nancy Pelosi Has New Tech Stock Pick After Making More Than $1M On Nvidia: Here's The Latest Purchase

Zinger Key Points
  • A new stock trade by Nancy Pelosi was recently disclosed.
  • Nancy Pelosi's trading history has been heavily scrutinized in recent years.

Congresswoman Nancy Pelosi (D-Calif.) is one of the members of Congress who is most scrutinized for their trading history of stocks and options.

After recently profiting more than $1 million from a trade in NVIDIA Corporation NVDA, Pelosi filed a new disclosure of a recent technology stock purchased by her and her husband, venture capitalist Paul Pelosi.

What Happened: The Pelosis bought call options in cybersecurity company Palo Alto Networks Inc PANW before and after recent second-quarter financial results.

According to a disclosure shared by Quiver Quant, the purchases were as follows:

50 call options PANW, strike price $200, expiration date Jan. 17, 2025, trade placed on Feb. 12

20 call options PANW, strike price $200, expiration date Jan. 17, 2025, trade placed on Feb. 21

Both trades were disclosed on Feb. 23 by Pelosi. The second transaction happened the day after Palo Alto Networks reported financial results and came as shares fell post earnings.

Shares of Palo Alto Networks traded between $367.53 and $376.30 on Feb. 12 and between $260.09 and $275.98 on Feb. 21.

One item that could be on the mind of investors is the timing of the transaction.

"The CEO of $PANW recently said that they are hoping for a major government contract," Quiver Quant tweeted.

Related Link: 10 Best Stock Traders In Congress In 2023 (Spoiler: Nancy Pelosi Has Reentered The Chat)

Why It's Important: Pelosi previously came under fire for her trade in Nvidia ahead of the approval of the CHIPS Act by Congress, which benefitted chip stocks like Nvidia. The purchase also came before Pelosi travelled to Taiwan.

The Pelosis later sold their Nvidia shares at a loss missing out on millions of dollars in profit, with the trade potentially coming due to public pressure on the timing of the trade.

Pelosi, who was formerly Speaker of the House, has said that she does not share information with her husband about government contracts or pending legislation that could be used for stock and options trades.

While Palo Alto Networks has gotten government contracts in the past, the signing of future contracts coming after the disclosed trade by Pelosi could be heavily scrutinized.

PANW Price Action: Palo Alto Networks shares are up 8.27% to $305.33 on Monday versus a 52-week trading range of $176.30 to $380.84. Palo Alto Networks stock is up 65% over the last year.

Read Next: If You Invested $1,000 In NVIDIA Stock When Nancy Pelosi And Her Husband Did, Here’s How Much You’d Have Now

Photo: Shutterstock

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