(PresidentialInsider.com)- Nancy Pelosi and her husband Paul are at it again, conducting shady stock trades that this time saved them hundreds of thousands of dollars.
The Speaker of the House and her investor husband have been criticized in the past for their investment decisions. This time, the Pelosis sold all of the shares they owned in a company called Nvidia, only one month prior to the federal government placing restrictions on that tech company.
Immediately following the restrictions being put in place, Nvidia’s stock price plummeted.
Back in July, the couple sold 25,000 shares they had in the company, which is all the Nvidia shares they owned. Then, on October 26, the U.S. government forced Nvidia to stop selling their microchips to Russia and China without getting authorization.
CNBC reported that the move was projected to cost Nvidia as much as $400 million. One day after that report was published, the company’s stock dropped almost 12%.
Multiple accounts on Twitter that track the stock trades the Pelosis make said that the couple saved roughly $600,000 by selling their shares in the company before that news was released to the public.
The Washington Free Beacon has reported many times in the past that Paul Pelosi has many times made “timely” purchases in various companies that Nancy has helped subsidize while she has been in Washington.
Paul actually purchased stock of Nvidia in June around the same time that his wife oversaw a House bill that would’ve granted billions of dollars in subsidies that the company could’ve taken advantage of.
Business Insider reported that said many stock traders follow the selloffs and purchases that Pelosi makes and use them as investing tips. Some have suggested that “she’s making the big bucks off of insider information,” which is why these savvy traders follow what the couple does.
A spokesman for Nancy Pelosi said to Fox Business that Paul Pelosi has no conversations with his wife about the stock trades that he makes until the trades have been completed.
That’s a little hard to believe, though. And even if Paul doesn’t speak to Nancy about the trades he’s going to make, that doesn’t necessarily mean that he’s not getting insider information from his wife that helped to make his decisions.
Earlier this year, Pelosi said she wouldn’t necessarily be against passing a ban on all stock trades completed by members of Congress and their staff. The Daily Beast, though, reported that the House Speaker was “content to let [a proposed ban] die behind the scenes.”
That’s something that even a fellow member of her party said recently. Representative Abigail Spanberger, a Democrat from Virginia, commented on the possibility of a stock-trading ban:
“The people who control the calendar don’t want to bring it to the floor.”
In other words, in her position of power and control, Pelosi has prevented the bill from even making its way to the House floor for debate and a possible vote. That’s not hard to believe, with how much she and her husband are making out with stock trades.
