Pelosi's Husband Bought Amazon Stock Before Pentagon JEDI Shakeup Sent Shares Soaring
House Speaker Nancy Pelosi (D-CA) disclosed from her ivory tower late last week that her investor husband, Paul Pelosi, made several now-profitable trades in various securities.
For starters, Pelosi bought both Amazon on May 21 when it closed at $3,259.05. Fast forward six weeks and great news for Amazon after the Pentagon pulled the rug out from Microsoft's $10 billion JEDI cloud computing deal (opening the door for Bezos), and the trade is looking great.
https://www.zerohedge.com/political...ock-pentagon-jedi-shakeup-sent-shares-soaring
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Then there's Pelosi's 40% Nvidia score after a June 3rd, pre-split purchase.
That's not all!
Paul Pelosi on May 21 spent up to $250,000 on 50 Apple calls that have a strike price of $100 and that expire on June 17, 2022. He also bought 20 Amazon calls, costing up to $1 million, that have a strike price of $3,000 and that also expire on June 17, 2022.
On June 18, Paul Pelosi, exercised his Alphabet call options giving him the right to buy 4,000 shares at a price of $1,200 apiece, or $4.8 million. The Alphabet call options were originally purchased on Feb. 27, 2020.
The transactions were disclosed in a filing on Friday, July 2. -Fox Business
According to Fox Business, "The speaker has no involvement or prior knowledge of these transactions," adding "The speaker does not own any stock."
The Pelosis have at least one ardent defender in former Rep. Jill Long Thompson (D-IN), who insists that even though Paul is married to the House Speaker, it's unlikely that he would "have any information that someone else wouldn't," adding "Members of Congress make it clear what their positions are on these issues and the fact that they're working on a piece of legislation that would be public information."
On June 11, the House Judiciary Committee advanced several bills with bipartisan support which would limit the powers of FAANG companies. The bills, which passed through committee by slim margins, have yet to be voted on by the House.
This is not the first time that investments made by Paul Pelosi have been made in close proximity to happenings in Congress.
Paul Pelosi in March exercised $1.95 million worth of Microsoft call options less than two weeks before the tech stalwart secured a $22 billion contract to supply U.S. Army combat troops with augmented reality headsets.
In January, he purchased up to $1 million of Tesla calls before the Biden administration delivered its plans to provide incentives to promote the shift away from traditional automobiles and toward electric vehicles. -Fox Business
Meanwhile, Congressional Democrats are going after Redditors who've banded together to squeeze meme stocks.
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HOT TAKES
COURTESY OF THE MARKET EAR
HONEY - I GOT YOU THOSE PUTS INSTEAD OF NEW HANDBAGS
Source: Refinitiv
On June 22, the day after LVMH put in that huge candle, we suggested EU luxury makers were getting ahead of themselves. In our note, "Honey - I got you a handbag...full of puts", we wrote;
"Unique brands, outstanding business models with pricing power, growth and free cash flow generation. The sector has continued to be on fire, but can this sector be this awesome, benefiting from everything?
LVMH put in a huge shooting star candle the other day. This one is to be observed closely as the psychology shifted with that candle. There are sellers up there is the message basically...Are you starting to get NASDAQ 2020 feelings when looking at the European luxury sector?"
Since then the entire sector has corrected, and LVMH is down to trend channel lows, approaching the 50 day moving average.
For now this is nothing more than a much needed "pause", so watch the 50 day moving closely...
If you are going to use the put profits to buy more handbags we leave to you to decide...
15h ago at 2:54
NASDAQ REMAINS KING...
Source: Refinitiv
...despite people trying to push the long reflation narrative over the past half year.
NASDAQ vs Russell ratio is now back to early January levels. The pillar of this market remains tech, irrespective of what people say.
The bigger problem for the crowd is the p/l pain from the crowded long reflation logic, and the fact most still "hate" tech.
Explaining to the CIO why you are not long melt up tech but long reflation which isn't performing isn't an easy task, and it doesn't help you all your friends are running the same positions...
11h ago at 7:05
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House Speaker Nancy Pelosi (D-CA) disclosed from her ivory tower late last week that her investor husband, Paul Pelosi, made several now-profitable trades in various securities.
For starters, Pelosi bought both Amazon on May 21 when it closed at $3,259.05. Fast forward six weeks and great news for Amazon after the Pentagon pulled the rug out from Microsoft's $10 billion JEDI cloud computing deal (opening the door for Bezos), and the trade is looking great.
https://www.zerohedge.com/political...ock-pentagon-jedi-shakeup-sent-shares-soaring
Ad: (40)
Skip Ad
Week ahead: Bezos steps down, 'Black Widow' steps up
NOW PLAYING
Why do we throw away unused goods?
Famous CEOs and Their Successors (Video List)
Amazon releasing child-friendly speakers in UK
Blue Origin: The race for a ticket to space
Tax & Antitrust Regime Change
Amazon's future lies in web services under new CEO - expert
Val
Then there's Pelosi's 40% Nvidia score after a June 3rd, pre-split purchase.
That's not all!
Paul Pelosi on May 21 spent up to $250,000 on 50 Apple calls that have a strike price of $100 and that expire on June 17, 2022. He also bought 20 Amazon calls, costing up to $1 million, that have a strike price of $3,000 and that also expire on June 17, 2022.
On June 18, Paul Pelosi, exercised his Alphabet call options giving him the right to buy 4,000 shares at a price of $1,200 apiece, or $4.8 million. The Alphabet call options were originally purchased on Feb. 27, 2020.
The transactions were disclosed in a filing on Friday, July 2. -Fox Business
According to Fox Business, "The speaker has no involvement or prior knowledge of these transactions," adding "The speaker does not own any stock."
The Pelosis have at least one ardent defender in former Rep. Jill Long Thompson (D-IN), who insists that even though Paul is married to the House Speaker, it's unlikely that he would "have any information that someone else wouldn't," adding "Members of Congress make it clear what their positions are on these issues and the fact that they're working on a piece of legislation that would be public information."
On June 11, the House Judiciary Committee advanced several bills with bipartisan support which would limit the powers of FAANG companies. The bills, which passed through committee by slim margins, have yet to be voted on by the House.
This is not the first time that investments made by Paul Pelosi have been made in close proximity to happenings in Congress.
Paul Pelosi in March exercised $1.95 million worth of Microsoft call options less than two weeks before the tech stalwart secured a $22 billion contract to supply U.S. Army combat troops with augmented reality headsets.
In January, he purchased up to $1 million of Tesla calls before the Biden administration delivered its plans to provide incentives to promote the shift away from traditional automobiles and toward electric vehicles. -Fox Business
Meanwhile, Congressional Democrats are going after Redditors who've banded together to squeeze meme stocks.
28,870129
NEVER MISS THE NEWS THAT MATTERS MOST
ZEROHEDGE DIRECTLY TO YOUR INBOX
Receive a daily recap featuring a curated list of must-read stories.
HOT TAKES
COURTESY OF THE MARKET EAR
HONEY - I GOT YOU THOSE PUTS INSTEAD OF NEW HANDBAGS
Source: Refinitiv
On June 22, the day after LVMH put in that huge candle, we suggested EU luxury makers were getting ahead of themselves. In our note, "Honey - I got you a handbag...full of puts", we wrote;
"Unique brands, outstanding business models with pricing power, growth and free cash flow generation. The sector has continued to be on fire, but can this sector be this awesome, benefiting from everything?
LVMH put in a huge shooting star candle the other day. This one is to be observed closely as the psychology shifted with that candle. There are sellers up there is the message basically...Are you starting to get NASDAQ 2020 feelings when looking at the European luxury sector?"
Since then the entire sector has corrected, and LVMH is down to trend channel lows, approaching the 50 day moving average.
For now this is nothing more than a much needed "pause", so watch the 50 day moving closely...
If you are going to use the put profits to buy more handbags we leave to you to decide...
15h ago at 2:54
NASDAQ REMAINS KING...
Source: Refinitiv
...despite people trying to push the long reflation narrative over the past half year.
NASDAQ vs Russell ratio is now back to early January levels. The pillar of this market remains tech, irrespective of what people say.
The bigger problem for the crowd is the p/l pain from the crowded long reflation logic, and the fact most still "hate" tech.
Explaining to the CIO why you are not long melt up tech but long reflation which isn't performing isn't an easy task, and it doesn't help you all your friends are running the same positions...
11h ago at 7:05
UPGRADE TO PREMIUM
CONTACT INFORMATION+
SUGGESTED READING+
DISCRIMINATION NOTICE
COPYRIGHT ©2009-2021 ZEROHEDGE.COM/ABC MEDIA, LTD
Paused by McAfee® Web Boost
