Tag Archives: Nvidia

Wishing I Had The Same Stock Advisors As The House Of Representatives

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On Friday, The Washington Free Beacon posted an article about a recent stock trade by Nancy and Paul Pelosi.

The article reports:

Speaker of the House Nancy Pelosi (D., Calif.) and her multimillionaire husband, Paul Pelosi, saved hundreds of thousands of dollars by selling their shares in Nvidia about one month before the U.S. government placed restrictions on the tech company, causing its stock price to plummet.

In July, the Pelosis sold all 25,000 of their shares in Nvidia. On Aug. 26, the government ordered Nvidia to stop selling microchips in China and Russia without authorization, which could cost the company up to $400 million, CNBC reported on Wednesday. The day after CNBC’s report, Nvidia’s stock price was down nearly 12 percent, according to the Wall Street Journal.

Maybe we should all just keep a record of what stocks Congressmen are trading and simply follow suit.

The article continues:

By selling the shares before the news broke, the speaker and her husband saved around $600,000, according to multiple Twitter accounts that track the Pelosis’ controversial stock trades.

Paul Pelosi has a long history of making “timely” purchases in companies that his wife has worked to subsidize, the Washington Free Beacon has reported. He purchased the Nvidia stock in June as the speaker oversaw a bill that would grant billions of dollars in subsidies that could benefit the company.

Internet stock traders often follow Nancy Pelosi’s purchases and selloffs for investing tips, Business Insider reported, with some suggesting “she’s making the big bucks off of insider information.”

Stock trading is simply one of many ways that a middle-class American can enter Congress and emerge four years as a millionaire.

Another Casualty Of The Supply Chain Crisis

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On Monday, BizPacReview posted an article detailing an ongoing problem with the supply chain crisis and automobile manufacturing.

The article reports:

As congressional leaders refuse to get out of the way and allow the free market to sort out the supply chain issues, instead quibbling over legislative responses that will most benefit them, American consumers are faced with ongoing degradation of the quality and quantity of available goods that may put lives in jeopardy.

Though many industries have bounced back since the COVID pandemic response rocked global supply chains, the semiconductor chip shortage has gone unresolved leaving auto manufacturers scrambling for solutions to maintain vehicle production. Where at first, amenities like heated seats and touchscreen displays couldn’t make the cut, Fox Business reported that some car companies have resorted to the removal of optional safety features like blind spot monitoring systems, semi-automated driver aids, and proximity alerts sensors.

“Automakers are in a tight spot when the materials aren’t available for some of the safety technology,” Jessica Cicchino, Insurance Institute of Highway Safety vice president of research, told the outlet. “It really shifts the burden on the consumers who are already having a hard time shopping for a car.”

The article notes that many of the current safety features in cars that save lives are having to be eliminated. Heated seats may be considered a luxury, but some of the proximity alerts sensors save lives.

The article also notes the insider trading aspect of this crisis:

However, lawmakers’ latest move to address the shortage through the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, looked more to be a blatant display of insider trading than an aim to solve the problem. As previously reported, House Speaker Nancy Pelosi’s (D-Calif.) husband Paul Pelosi had purchased 20,000 shares of Nvidia, a leading manufacturer of semiconductors, ahead of a vote on the bill that would see the largest portion of a $52 billion handout handed over to the company.

What an amazing coincidence.