Just before the Senate passed a major bill to subsidize computer chip manufacturers on Wednesday, House Speaker Nancy Pelosi’s (D-California) husband sold thousands of shares of Nvidia — a tech company that could stand to gain from the passage of the nearly $80 billion bill.Pelosi’s Husband Dumped Up to $5M of Tech Stock Right Before Senate Passed CHIPS
Nancy Pelosi And Husband Sell NVIDIA Corp Stock After Public Pressure
“I think this comes in response to public pressure and the conflict of interest her stock position posed,” the founder of Congresstrading.com, who asked to remain anonymous due to the sensitive nature of his site, told Benzinga.
“It is surprising to see the sale. Also, what’s surprising here is that she sold and reported one day later. Usually she takes a couple of weeks. She wanted the public to know she cleared her books of this conflict of interest immediately.”
Congresstrading also noted Pelosi’s filings typically come on Fridays, when the media may potentially bury the story over the weekend.
The Nancy Pelosi Tracker on Twitter, which shares transactions by the Speaker of the House, noted the transaction history of NVIDIA Corporation by the Pelosis dates back to May 2021. According to the account, the Pelosis still own 50 options on NVIDIA Corporation with a strike price of $100 and expiration of Sep. 16, 2022 that were purchased back on July 23, 2021.
Pelosi remains one of the most active filers of stock transactions in Congress due to her husband being a venture capitalist.