It’s not hard to see why some politicians are calling for a ban on lawmakers trading stocks. The problems of senators and House reps getting filthy rich and generating conflicts of interest have been with us for a long time. But the loot amassed by former California Democrat and former House Speaker Nancy Pelosi is raising eyebrows afresh.
According to the widely followed X account “Unusual Whales,” which tracks suspicious trades, Pelosi has made $5 million recently from her stock in the company Nvidia, which is now the most valuable company in the world (albeit with a much higher price to earnings ratio than second and third place, Microsoft and Apple). The company is best-known for its computer graphics cards powering popular high resolution video games, but like all such companies, it’s branching out into Artificial Intelligence (AI).
For reference, this is 20 times her annual salary.
image of tweeet
her portfolio is up 230% in 10 days and still not sold her calls
An earlier story from a few weeks ago reported that Pelosi’s husband Paul made stock moves with Nvidia that netted the couple almost $4 million at that point.
Nvidia was just named the wealthiest company the other day and beat out microsoft.
What are the odds that their percent returns exceed that of investment legends like Warren Buffett
https://wokespy.com/a-cool-5-million-does-pelosi-know-something-we-dont/
Chip-maker Nvidia became the world’s most valuable company after its share price climbed to an all-time high on Tuesday. It is now worth $3.34tn (£2.63tn), with the price having nearly doubled since the start of this year. The stock ended the trading day at nearly $136, up 3.5%, making it more valuable than fellow tech giant Microsoft.
Nvidia beats Microsoft to become world’s most valuable company …
https://www.bbc.com/news/articles/cyrr40x0z2mo
h/t Coastie Patriot