This is just another case of politicians doing what they know best.
Paul Pelosi, Nancy Pelosi’s husband bought $1 million worth of Tesla shares just days before the Biden administration released plans that they would replace current government-owned vehicles with an all-new electric vehicle fleet.
This has raised several eyebrows and has many people thinking Pelosi was given some inside knowledge of Biden’s plan.
Nancy Pelosi has plowed up to $1 million into bullish bets on Tesla stock https://t.co/wplE63f1Bg
— Business Insider (@BusinessInsider) January 25, 2021
So Nancy Pelosi buys Tesla stock, couple days later Biden announces government vehicles all be electric…isn’t that insider trading?
— Ryan Lee Odens (@odiegarfield77) January 26, 2021
The Washington Times covered the corruption:
A watchdog group called out House Speaker Nancy Pelosi for a very profitable Tesla stock deal shortly before the Biden administration released plans to make the federal automobile fleet electric.
Last month, Paul Pelosi, a wealthy venture capitalist and husband of the California Democrat, bought up to $1 million of Tesla stock when the price was roughly $640.34 a share. The price had shot up to $838 a share by Thursday on the NASDAQ exchange.
Tesla stock has been a darling of Wall Street for years, and the company stands to reap huge profits if the federal government moves to an all-electric fleet.
The federal government has more than 645,000 cars in the fleet.
President Biden: "We're going to harness the purchasing power of the federal government to buy clean zero-emission vehicles that are made and sourced by union workers right here in America." pic.twitter.com/ktzrdjJ2JT
— The Hill (@thehill) January 27, 2021
Business Insider covered the story too:
House Speaker Nancy Pelosi’s husband has placed up to $1 million worth of bullish bets on Tesla stock, the politician revealed in a financial disclosure form last week.
Paul Pelosi, who runs an investment firm, bought 25 call options on Tesla stock with a strike price of $500 and an expiration date of March 18, 2022. He spent between $500,001 and $1 million on them on December 22.
The purchases are legal but have raised eyebrows. Nancy Pelosi now has a financial interest in Tesla’s success, even as she’s poised to play a key role in passing green initiatives that stand to help the automaker.
Pelosi makes close to $174,000 a year but her net worth is close to 120 million.
Somethings not adding up, literally!