House Speaker Nancy Pelosi’s husband bought 20,000 shares of a computer stock shortly before Congress approved a $52 billion chip subsidy bill.
Paul Pelosi exercised stock options to buy 20,000 shares of computer chip designer Nvidia at $100 per share on June 17, according to a House financial disclosure form. The value of those shares as of Thursday is more than $3.5 million. The stock price for the company best known for graphics cards used by serious computer gaming enthusiasts has increased almost $40 per share in the last month.
Critics question whether the speaker’s husband benefited from insider knowledge of voting decisions that helped them net a nice profit on the graphics card designer’s stock over the last month.
Fox News Digital asked Pelosi if her husband had ever traded stock after hearing about congressional voting that may move markets.
“No,” Pelosi reportedly said. “Absolutely not.”
A spokesman also denied the speaker’s involvement in financial hijinks related to insider information learned in the performance of her congressional duties.
“The Speaker does not own any stocks,” spokesman Drew Hammill said in a statement to FOX Business. “As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions.”
Nancy Pelosi ranked as the eighth-biggest securities trader last year among Congress members based largely on her husband buying $12 million in shares while selling none, according to a January MarketWatch report citing a Capitol Trades analysis of financial disclosures filed by members.
The House passed a version of the chip subsidy bill. A slightly different version of how to allocate $52 billion in subsidies and tax credits for chip manufacturers may be voted upon by the U.S. Senate as early as Tuesday, according to a Reuters report.
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