Democrat House Speaker Nancy Pelosi (CA) has revealed that her spouse, Paul Pelosi, placed several lucky trades in certain stocks.
For starters, Paul purchased Amazon calls on May 21st when it ended at $3,259.05. Now, six weeks later, there is sudden good news for Amazon after Pentagon officials took back their $10 billion JEDI cloud deal with Microsoft (opening the door for Amazon to takeover), and this Pelosi trade is now looking great.
Fox Business says, “The speaker had no knowledge of these trades,” saying that “Pelosi does not own stock in this company.”
Pelosi purchases multi-million dollars worth of FAANG and $NVDA call options in a report out minutes ago pic.twitter.com/cKS0owvFZU
— congresstrading.com (@congresstrading) July 6, 2021
The Pelosi family has had at least one tough defender in former Democrat Congresswoman Jill Long Thompson (IN), who says that although he is married to the Speaker, it is not likely he would “have any details that someone else would not have,” adding “Congress-members make it certain what their positions are about these topics and the fact that they are working on a bill that would be publicly known.”
On June 11th, the Judiciary Committee put forward several bills with bipartisan backing which would restrict the powers of FAANG tech companies. The bills, which got through the committee by a small margin, has yet to be discussed in the House.
This was not the first occasion that Paul Pelosi’s investments have been placed in close timing to events in Congress.
Paul Pelosi back in March bought $1.95 million of Microsoft call options just under two weeks away from the tech stalwart securing the $22 billion agreement to give U.S. Army troops their new augmented reality headsets.
In Jan., he bought as much as $1 million of Tesla calls leading up to the Biden Admin. unveiling its plan to give incentives to support the shifting away from traditional vehicles and toward electric vehicles.
Meanwhile, Democrats in congress are going after Redditors who have banded together to fight back against the Wall Street elite to squeeze some stocks. The Democrats’ public persona of supporting the little guy is nothing but a show. In reality, they are the super rich and want to further their own wealth.
Author: Scott Dowdy
