The recent stock market investments of US Representative Nancy Pelosi have been gaining prominence in recent weeks, with her portfolio going up an astounding 91% in the last year alone.
However, this momentum could be coming to halt in at least one stock, as her latest Palo Alto Networks (NASDAQ: PANW) options trade is off to a less than spectacular start.
The Palo Alto Networks options trade
As Finbold reported, Pelosi recently purchased call options of the cybersecurity firm with a $200 strike price expiring in January 2025, specifically on February 2 and February 21.
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Subsequent to Pelosi’s acquisition of call options in PANW, the stock witnessed a jump of up to 10% on February 26, 2024. This notable increase follows closely on the heels of a significant downturn, where the cyber-security giant’s shares plummeted over 30% in the wake of their earnings report.
The Palo Alto shares seem to be on a downward trajectory yet again. The PANW stock is currently valued at $278.86, a decrease of $12.27 (4.21%) in the last 24 hours.
This downward stock trend is arousing interest as something not typical of Pelosi, whose Nvidia (NASDAQ: NVDA) call options soared to over $2 million after purchase.
Why the PANW purchase interesting in the first place
The purchase initially sparked interest as it was made roughly two weeks after Congress was briefed on a matter labeled as a “Serious National Threat.”
Intriguingly, it was within this same timeframe that Nancy Pelosi, a key member of Congress, invested a substantial $1.2 million in Palo Alto Networks, a leading cybersecurity firm.
Palo Alto Networks, known for clinching several government contracts in the past, has its CEO recently hinting at the prospect of landing a new significant government deal soon. This anticipation, may underline an additional rationale behind Pelosi’s notable investment, making the timing and nature of the purchase particularly noteworthy.
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