During a media conference Friday, House Speaker Nancy Pelosi said her husband Paul Pelosi never traded stocks based on tips from her.
When asked by a Fox News digital reporter whether or not Pelosi’s position in Congress gave her husband insider stock advice, Pelosi laughed before denying and exiting the podium.
For his latest purchase in June, Paul Pelosi bought up to $5 million in stock options (equal to 20,000 shares) of Nvidia, a leading semiconductor company. The purchase, first reported by The Daily Caller, comes as Congress is set to vote on legislation later this month that would result in $52 billion in subsidies allocated to elevate the chip-production industry as it faces increased competition from China.
So how does the House speaker explain such a huge buy by her husband so perfectly timed ahead of this vote?
“These transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions,” her spokesperson explained recently.