U.S. Rep. Nancy Pelosi, D-California, has achieved significant financial gains from her recent investment in Nvidia Corp. (NASDAQ:NVDA), a prominent company in artificial intelligence (AI) and semiconductors. On Nov. 22, Pelosi acquired 50 call options for Nvidia with a strike price of $120, expiring on Dec. 20, 2024. The transaction value ranged between $1 million and $5 million​​. As of early 2024, Pelosi has reportedly made nearly $500,000 from this investment, surpassing her annual governmen
    • Pyr_Pressure@lemmy.ca
      172·
      6 months ago

      Because they get all the insider info that they are legally allowed to use for investment strategies which commoners are not.

        • hark@lemmy.world
          11·
          6 months ago

          If someone who isn’t of congress nobility tells their investment firm owning spouse of insider information, they’d face severe penalties. Congress is taking advantage of the fact that they write the laws by exempting themselves.

    • Zoboomafoo@slrpnk.net
      3·
      6 months ago

      They’re in a job where they often are the first to hear significant public info that will affect the markets. This lets them make stock deals to their benefit before anyone else.

      If they’re being scummy, they use info that isn’t public.

      Progressives in the DNC are pushing for this to be reformed, so that’s the best path for change.

    • OldWoodFrame@lemm.ee
      1·
      6 months ago

      Who says they do? Everyone holding Nvidia got the gains, it’s the 6th largest company by market cap, everybody with enough money in the stock market (or any shares in an S&P 500 index fund) owns some.

      And you’ll never see an article about Nancy Pelosi losing money because nobody cares, so if she has a lot of money in a lot of places, you’ll just see the bets that succeeded and think she’s killing it.