Skip to content

How Nancy Pelosi made up to $1.8 million in two weeks

How Nancy Pelosi made up to $1.8 million in two weeks

On December 21, 2023, Representative Nancy Pelosi made public her investment of between $1- $5 million in Nvidia (NASDAQ: NVDA) call options with a strike price of $120. At the time of the trade on November 22, the semiconductor giant’s stock was worth approximately $488.

At the stock market’s close on Monday, January 9, 2024, Nvidia’s shares stood at their all-time-high (ATH) price of $522.53, meaning that the Congresswoman potentially made up to $1.8 million on her well-timed investment.

It is important to note, however, that the acquisition of Nvidia call options is not necessarily a suspicious congressional trade, given the firm’s strong performance throughout 2023 and the prevailing optimism for its future.

Curtailing suspicious congressional trading

On the other hand, the uncannily well-timed trades of Representative Pelosi – suspicious enough that the “Wolf of Wall Street” Jordan Belfort recently concluded that she is likely breaking the law – have been a major force behind the renewed drive to restrict trading activities of elected officials. 

Additionally, while Nancy Pelosi achieved an impressive 2023 return rate of approximately 65%, she is far from the most successful congressional trader. That particular dubious honor belongs to New York’s Biran Higgins, who is a staggering 238.9% in the green in 2023.

The suspicious activities have caused differing reactions among officials. On the one hand, Senator Mark Kelly appears to have decided to place his assets in a blind trust despite not being legally obligated to do so, according to information shared by Quiver Quantitative on X on January 8, 2024.

On the other hand, there is some indication that the politicians have started trying to obfuscate their trades after New Year’s Day. However, the situation is not entirely clear at the time of publication.

NVDA’s strong performance

Whether Representative Pelosi’s Nvidia investment is indeed suspicious, it is evident that the chip maker’s performance has been impressive throughout 2023. The company retained its dominant position in the semiconductor industry and is, with the introduction of the new high-end AI chip – the H200 – safely securing its leading position.

Its stock has also risen significantly over the 52-week period – as much as 234.36%. In the short term, the company has also been performing well on the stock market, being 12.07% in the green in the last 30 days and 6.43% in the last 24 hours.

Its latest closing price of $522.53 constitutes NVDA’s ATH.

NVDA 1-day price chart. Source: FInbold

The company is also likely to continue offering significant growth in 2024. While a new round of export restrictions to China briefly endangered its operations in the country in late October, the semiconductor giant has since reportedly managed to strike a deal with the U.S. government and is poised to begin the deliveries of a new series of chips.

Nvidia is generally considered a strong buy by prominent analysts, and many expect it will reach – and possibly exceed – $600 per share in 2024.

Buy stocks now with Interactive Brokers – the most advanced investment platform

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.