Donald Trump wants Matt Gaetz to be the new attorney general and that might be bad for Paul and Nancy Pelosi who are notorious for making headlines in the stock market. Think back to 2021 when Matt Gaetz and Josh Hawley were grilling folks about the stock trades, targeting Paul and Nancy Pelosi and also suggesting that members of Congress should not be allowed to trade stocks.
Paul Pelosi, at that time, had made a $6 million stock sale as the House was on a trust-busting attempt towards the tech markets. Daily Mail reported this on the stock sale back in 2021:
House Speaker Nancy Pelosi’s husband Paul made moves on the stock market that suggest the House’s trust-busting attempt won’t hurt tech giants Amazon, Apple and Alphabet, the parent company of Google.
Bloomberg News reported that Paul Pelosi exercised call options to acquire 4,000 shares of Alphabet stock, at a strike price of $1,200. That made him a $4.8 million gain, which has grown to $5.3 million since.
On May 21, Paul Pelosi also bought 20 call options for Amazon, with a strike price of $3,000, as well as 50 call options of Apple stock, with a strike price of $100. Both expire in June 2022.
I don’t even know how the stock market works. The only thing I know is buy high, and sell low. Just kidding. It’s buy low and sell high – but I don’t know all the other intricate things going on in stocks. The one thing I do know is this – that Congressmembers should not be allowed to trade stocks because they’re literally making laws that could impact their stocks in a way that benefits them. Who cares about a law if you’re rich, right?
Do you think Matt Gaetz will investigate Nancy and Paul Pelosi’s stock trading if he becomes Trump’s official attorney general? Will Matt Gaetz be part of a movement that bans congressmembers from trading stocks? Or will Matt Gaetz get in on the stock trading himself? A lot remains to be seen, but my only request is this – if Nancy Pelosi is making millions on the stock market, then she should share her secrets and make the rest of us millionaires too! We could all use a few extra bucks, right?
If you want to trade stocks online, then try Robin Hood. If you sign up under me, then I get a free stock. You can then refer your friends, and you get a free stock for that. Pretty cool, right? And once you sign up, there’s no obligation to actually buy anything. I use it for some stocks like Google and the cryptocurrency DOGE and SHIB. SHIB is less than a penny, so if it ever gets huge, then I’ll make some cash on that. Try Robin Hood if you’d like. Tap here.
