Cockburn doesn’t believe in coincidences. That’s why when he saw that Nancy Pelosi and her multimillionaire husband Paul saved hundreds of thousands of dollars by selling shares one month before their stock price plummeted, he thought that it was probably more than just an educated guess.
According to a report from the Washington Free Beacon, model citizen Mr. Pelosi sold 25,000 shares of technology company Nvidia, at around $165.05 in July which resulted in a loss for him of $341,365, a set of disclosures showed.
Luckily he dumped the stock in time, as one month later, Nvidia revealed that the government had imposed export restrictions on the company’s A100 and forthcoming H100 circuits. The new regulations would “address the risk that the covered products may be used in, or diverted to, a ‘military end use’ or ‘military end user’ in China and Russia.” Phew.
Join the conversation as a VIP Member