Nvidia’s Record-Breaking Streak Continues: A Congressional Power Couple’s Lucrative Investment
As Nvidia Corporation (NASDAQ:NVDA) shares soar to unprecedented heights, one notable investor is reaping the benefits of their savvy investment strategy. Former House Speaker Nancy Pelosi and her husband, venture capitalist Paul Pelosi, have made headlines with their well-timed purchases of Nvidia stock and options.
A $1.8 Million Bet on Nvidia’s Success
In a December 2023 disclosure, Nancy Pelosi reported purchasing 50 call options in Nvidia, with a strike price of $120 and an expiration date of December 20, 2024. The purchase price was estimated to be between $1 million and $5 million, with Unusual Whales pinpointing the exact cost at $1.8 million. Fast forward to today, and the options have undergone a significant transformation following Nvidia’s 10-for-1 split in June 2024.
A $6.6 Million Payday
The Pelosis now hold 500 call options with a strike price of $12 and an expiration date of December 20, 2024. As of Monday, these options traded at $132.05, valuing the Pelosis’ position at a staggering $6,602,500. Based on the estimated cost basis of $1.8 million, the power couple is now up $4.8 million on this trade alone.
A String of Lucrative Investments
This is not the only successful investment made by the Pelosis. In June and July 2023, Nancy Pelosi disclosed buying 10,000 NVDA shares, valued at $1 million to $5 million each. These purchases are now worth $2.87 million, with a potential profit of at least $430,000.
Missed Opportunities and Scrutiny
While the Pelosis are enjoying their profits, they could have potentially earned even more if they hadn’t sold shares back in July 2022. The sale, which drew scrutiny and attention, resulted in a loss of $341,365. The 25,000 shares would now be worth $35,927,500, meaning the Pelosis missed out on potential profits of $31,801,250.
Calls for Reform and Transparency
Nancy Pelosi’s investments have raised questions about congressional trading and the need for greater transparency. Observers remain skeptical about the timing of her trades, despite her claims that she does not share information on congressional activities with her husband. The issue has sparked calls for reform, including a bill that would ban Congress members and their spouses from trading.
Nvidia’s Record-Breaking Streak Continues
As the debate surrounding congressional trading continues, Nvidia’s stock price remains on an upward trajectory. The company’s shares closed at $143.71 on Monday, hitting new all-time highs. With a year-to-date gain of 198% in 2024, Nvidia shows no signs of slowing down.
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