Speaker of the House Nancy Pelosi is pushing a Chips Plus bill which would provide $52 billion in funding for semiconductor manufacturing grants for the chip industry, after accumulating $8 million of $NVDA stock, a computer chip company.
Pelosi sold off stock with Apple and Visa in late June and purchased the 20,000 shares of Nvidia stock around the same time, according to a financial disclosure report filed by the House speaker.
Hours after Pelosi disclosed her stock market activities, she publicly called for support of the Chips bill saying,
“We are determined that we will pass a bill” before congress heads to August recess.”
After Pelosi’s statement, $NVDA stock jumped 4%.
The Pelosi’s have accumulated 20,000 shares of $NVDA worth $8M+
All while a $52B CHIPS act has been stalled in Congress.
Yesterday Pelosi states, “We are determined that we will pass a bill” before congress heads to August recess.$NVDA stock jumps 4% on the news.
— Nancy Pelosi Stock Tracker (@PelosiTracker_) July 15, 2022
Timeline of events:
7/23/21 – Buys $NVDA LEAPS3/28/22 – $52B CHIP act initially passes but stalls out
6/17/22 – Pelosi buys $5M worth of $NVDA stock
7/14/22 – Pelosi comes out saying the bill needs to get passed ASAP
— Nancy Pelosi Stock Tracker (@PelosiTracker_) July 15, 2022
According to the Nancy Pelosi Stock Tracker, she has more than $70 million in total holdings,
$70.5M Total Holdings
Top 15 Positions$MSFT 12M 17%$CRM 8M 11%$GOOGL 7M 10%$NVDA 7M 9%$TSLA 6M 8%$NFLX 5M 7%$AMZN 5M 7%$FB 5M 7%$AB 4M 5%$AAPL 3M 5%$PYPL 3M 4%$DIS 2M 3%$RBLX 1M 2%$CRWD 1M 1%$MU 500k 0.7%
— Nancy Pelosi Stock Tracker (@PelosiTracker_) July 12, 2022
