By Nancy Pelosi and her husband are some of the greatest stock traders in history. In 2022, New Conservative Post noted that the fomer Speaker of the House took in roughly $30 million from placing money in Big Tech firms Pelosi is responsible for regulating. Late last month, the House Speaker disclosed that the Pelosis scooped up millions in bullish call options for stocks including Google, Salesforce, Micron Technology and Roblox.
Now she’s done it again! This time she’s revealed her secret. Is it technical analysis? Nope. How about being a great reader of financial reports? Nope. Is she good at reading the tape? Nope.
No, Nancy’s incredible run from the stock market comes from alleged old-fashioned grift and corruption.
Paul Pelosi recently placed millions of dollars on stock for semiconductor companies, and what-do-know, Nancy pushed a bill that provides billions to the same companies. Back in January she wrote, “The #AmericaCOMPETES Act will supercharge our investment in CHIPS, advance manufacturing at home, strengthen our supply chain, transform our research capacity and advance our competitiveness and leadership abroad, plus many other key provisions.”
Now she’s done it again, reports The New York Post.
Visa is currently facing antitrust scrutiny from federal investigators, with the Department of Justice (DOJ) looking into the company’s relationships with financial technology firms such as Square, Stripe, and PayPal. The DOJ is probing whether Visa engaged in anti-competitive practices by offering financial incentives to these companies in exchange for prioritizing Visa’s services over those of competitors. Allegations have surfaced that Visa provided benefits, like lower fees, to Square’s subsidiary, Cash App, on the condition that it promoted Visa-branded transactions. PayPal is also under investigation to determine if it was pressured by Visa to encourage users to make payments with Visa cards rather than other payment methods.
Visa has acknowledged the investigation and confirmed that it has provided requested information to the DOJ. The company stated, “We believe Visa’s US debit practices are in compliance with applicable laws.” However, the allegations have placed Visa’s conduct in the spotlight, particularly regarding its dealings in the US debit card market. As the investigation unfolds, Visa continues to assert that its practices align with legal standards.
Just before the Department of Justice made the announcement, however, Paul Pelosi must have just gotten a gut feeling. The husband of former House Speaker Nancy Pelosi revealed that he sold a significant amount of Visa stock just before the DOJ’s antitrust probe became public knowledge.
On July 3, Christopher Josephs, the tech entrepreneur who runs the “Nancy Pelosi Stock Tracker” on the social media platform X, shared a congressional filing that disclosed the sale. The document showed that Paul Pelosi sold 2,000 shares of Visa, valued between $500,000 and $1 million. The filing indicated that the sale was marked “SP,” or spouse, referring to Paul Pelosi, a prominent San Francisco-based venture capitalist and real estate investor. At the time of the sale, there was no public indication that Visa would soon face an antitrust lawsuit. Following the sale, Visa’s stock fell 5.5%, closing at $272.78.
Nancy Pelosi’s spokesperson addressed the stock sale, telling The Post, “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”
Nevertheless, critics argue that her position in Washington might give her access to non-public, market-relevant information. Ron Geffner, a former enforcement attorney with the Securities and Exchange Commission, warned against rushing to judgment, urging the public to consider other factors, such as who handled the transaction and whether it was part of a broader portfolio shift. He emphasized the importance of assessing the context before forming conclusions about potential conflicts of interest.
The July 3 disclosure also revealed that Paul Pelosi sold 2,500 shares of Tesla while simultaneously purchasing stocks in Nvidia and Broadcom.
Despite stepping down from her role as House Speaker last year, Nancy Pelosi remains an influential figure within the Democratic Party. Over the summer she used her power to push the sitting president off of her party’s presidential ticket, after all.
She and her husband’s stock trades have drawn scrutiny due to their substantial wealth, much of which stems from investments. Over the years, Pelosi has resisted calls from bipartisan lawmakers to prohibit members of Congress and their spouses from trading stocks, citing concerns about conflicts of interest.
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