Politician's husband sells NVIDIA stock right before Congress is set to pass the 'CHIPS-plus' bill
Speaker of the House Nancy Pelosi husband, Paul Pelosi, has sold all of his stock in NVIDIA on Tuesday as Congress is set to pass the "CHIPS-plus" bill.
Paul Pelosi sold between $1 million and $5 million worth of NVIDIA stock, or 25,000 shares, at an average price of $165.05 on July 26, according to a mandatory congressional financial disclosure filed Tuesday by the speaker. Members of Congress are only required to report the values of their trades in broad ranges.
The disclosure states that by selling the shares, Paul Pelosi suffered a "total loss of $341,365."
This disclosure of a financial loss is notable because Nancy Pelosi, a Democrat from California, rarely volunteers such detailed information about her husband's stock and stock option trades.
But the Pelosis have faced significant questions and criticism from the right in recent days about the timing of Paul Pelosi's NVIDIA investments.
Insider previously reported that Paul Pelosi exercised 200 call options, or 20,000 shares, of NVIDIA worth between $1 million and $5 million on June 17, 2022, at a strike price of $100.
Paul Pelosi's trades come at a time when Congress is set to pass the "CHIPS-plus" bill, which will invest $54 billion in stateside semiconductor manufacturing and research. NVIDIA, a producer of graphics processing units and developer of integrated circuits, was one of many companies to sign an open letter in June asking leaders of Congress to pass the bill.
Last week, Pelosi denied at a press conference that her venture capitalist husband traded stocks using information she's given him.
"Absolutely not," Nancy Pelosi said.
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