- Dec 16, 2017
- 23,312
- 12,640
- 1,290
Is that enough to go on? I doubt it. What trade was suspicious?
During summer 2021, Paul cashed in on big tech shortly before the House Judiciary Committee voted to curtail the "unregulated power" of companies like Google and Amazon, Fortune reported. The move, however, wasn't considered a threat to the companies, and the tech firms' stock prices continued to rise.
Paul, meanwhile, had purchased 4,000 shares of Alphabet, Google's parent company, by exercising call options a week before the vote. The call options - which give investors the right to buy shares of a company at a specific price - allowed him to snag the shares of Alphabet at $1,200 a piece as they closed that day at just over $2,500, according to Fortune. Paul earned $5.3 million on the investment at the time.
A few months before the Alphabet purchase, Paul picked up millions of dollars worth of Microsoft stock just days before the company announced a lucrative government contract.
Paul exercised call options and paid $1.95 million to buy 15,000 shares of Microsoft at a strike price of $130 on March 19, Fox Business reported. That same day, Paul paid $1.4 million for 10,000 shares valued at $140.
Microsoft announced a government contract worth nearly $22 billion to supply U.S. Army combat troops with augmented reality headsets just twelve days after Paul's purchase, and the company's share prices increased from about $230 to roughly $255 – or close to 11% - in the weeks following the announcement.
And months before the Microsoft purchase, Paul snagged up between $500,000 and $1 million in Tesla investments in December 2020, or roughly a month before President Biden announced the federal government would transition its fleet to electric vehicles.
Biden, who was open about moving toward electric vehicles, in late January 2021, "directed federal officials to devise a plan for converting all federal, state, local and tribal fleets, including 225,000 Postal Service vehicles, to "clean and zero-emission vehicles," the Washington Post reported.
Biden's infrastructure plan later set aside more than $170 billion for electric vehicle subsidies.
Nancy Pelosi's husband has stirred scrutiny for years over his stock purchases
Nancy Pelosi has received backlash following her husband's most recent stock purchase, but Paul Pelosi has garnered media attention in the past for his timely stock purchases.
Records show the husband of House Speaker Nancy Pelosi, Paul Pelosi, invested between $1 and $5 million in the semiconductor company Nvidia, just weeks ahead of a vote scheduled on a bill that would provide more than $50 billionto the chip industry to move more manufacturing to the United States.
Paul Pelosi's business investment raises concerns over Washington insider trading
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