Pelosi doubled down on chipmakers last month
ByShrey Dua, InvestorPlace Senior Financial News ReporterJul 3, 2024, 3:29 pm EDT
Former Speaker of the House Nancy Pelosi is back to buying Nvidia (NASDAQ:NVDA) stock. Indeed, a new congressional trading form filed by the congresswoman shows she purchased shares in two chipmakers last month, including the likes of Nvidia and Broadcom (NASDAQ:AVGO).
Pelosi purchased 10,000 shares of Nvidia, worth between $1 million and $5 million. At the same time, the California representative purchased 20 call options with an $800 strike price on Broadcom, which expire on June 20, 2025. The value of this stake is estimated between $1 million and $5 million.
Pelosi also sold some stocks. Indeed, the form shows Pelosi dumped about 2,500 shares of Tesla (NASDAQ:TSLA), worth between $250,000 and $500,000. In addition, Pelosi sold 2,000 shares of Visa (NYSE:V), worth between $500,000 and $1 million.
Pelosi Earns Millions From NVDA Stock
Pelosi’s picks shouldn’t come as too much of a surprise to those keeping track.
This isn’t the first time Pelosi has invested in Nvidia. She is rather well-known for profiting big from Nvidia in the past. Over the years, Pelosi has repeatedly invested in the semiconductor giant. As of May, Pelosi and her investor husband have profited almost $4 million from Nvidia call options.
Reasonably so, Nvidia is one of the biggest winners in the stock market this year. The chipmaker has passed Microsoft (NASDAQ:MSFT) as the largest publicly traded company by market capitalization. NVDA stock is up 154% this year on outstanding earnings numbers.
Broadcom is also performing excellent this year, in the green 52% year-to-date.
It hasn’t been all peaches and cream for Pelosi however. The congresswoman has faced criticism for allegedly profiting off potential inside information that presents itself due to the nature of her high-profile position. Specifically, the former House Speaker traded Nvidia shares while the CHIPS and Science Act was in the middle of discussion on the house floor.
Still, Pelosi has never been formally reprimanded for her or her husband’s investments and remains one of the most profitable public elected officials on record regarding stock trading.
On the date of publication, Shrey Dua held a LONG position in NVDA. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor held a LONG position in NVDA.
With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. Shrey’s articles have featured in the likes of Morning Brew, Real Clear Markets, the Downline Podcast, and more.
Article printed from InvestorPlace Media, https://investorplace.com/2024/07/nancy-pelosi-is-buying-up-nvidia-nvda-stock-again/.
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