September 1, 2022 2:28pm EDT
Paul Pelosi dodged an extra 20% loss selling Nvidia stock in July before August US restrictions
Paul Pelosi's sale of Nvidia stock after backlash may have worked in his favor
By Houston Keene FOXBusiness
Paul Pelosi, the husband of House Speaker Nancy Pelosi, D-Calif., dodged an extra 20% loss by selling his Nvidia stock in July before the U.S. placed restrictions on the company in August, according to documents.
According to congressional stock trade records, Pelosi’s husband unloaded 25,000 shares of the semiconductor manufacturer July 27.
The sale came as the speaker faced intense scrutiny over her husband's purchase of the share ahead of the CHIPS bill.
Nearly a month later, on Aug. 26, the federal government placed restrictions on Nvidia doing business with China and Russia.
At a selling price of $165.05, the July sale netted the Pelosis a $341,365 loss, according to financial website Unusual Whales.
Unusual Whales also reported that if Mr. Pelosi had sold the shares Wednesday, Aug. 31, there would have been an extra 20% loss due to the government restrictions.
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https://www.foxbusiness.com/politics/paul-pelosi-dodged-extra-20-loss-selling-nvidia-stock-july-august-us-restrictions
