Nancy & Paul Pelosi Dump $8.25M Worth of Shares & Options Contracts in Tech Stocks
Here's Why She Sold & What She Lost on These Trades
A few days after sharing some eye opening “insider trades” of our politicians, the most well known Political Trader just jumped back on our radar.
Nancy Pelosi just reported that she sold up to $8.25M worth of stock & short term options contracts during the last week of 2022 (we will get into why soon).
What Pelosi Dumped:
12/18/22 Sold 20,000 AB 0.00%↑ Shares (-$11K)
12/28/22 Sold 30,000 GOOGL 0.00%↑ Shares (Loss Unknown)
12/30/22 Sold 2,000 NFLX 0.00%↑ Shares (-$133K)
12/21/22 Sold 10,000 PYPL 0.00%↑ Shares (-$850K)
12/28/22 Sold 5,000 RBLX 0.00%↑ Shares (-$235K)
12/30/22 Sold 5,000 TSLA 0.00%↑ Shares (-$511K)
12/20/22 Sold 130 CRM 0.00%↑ CALLS (-$733K)
12/21/22 Sold 10,000 DIS 0.00%↑ Shares (-$114K)
Nancy Rarely Displays Her Profits Publicly. She Only Shares Her Losses of Course.
Some readers may be asking “why sell for a loss when these companies not only are solid but also have been beaten down already?”. Well, it could be a multitude of things. The raising of interest rate conditions for the tech sector doesn’t mix well. Consumer demand will always drop if a recession occurs, which compresses earnings which thus compress multiples. With the way the stock market is looking along with the world economy, its safe to say we are in big trouble with rough waters ahead.
The Main Reason Pelosi is Dumping These Positions is Because She is Tax Harvesting for 2022 Year End.
For those that aren’t familiar with tax harvesting here’s a prime example:
You sell a position that's underperforming & losing money. Then, you use that loss to reduce your taxable capital gains & potentially offset up to $3,000 of your ordinary income.
Between Paul & Nancy Pelosi Their Buying Power Exceeds Everyone on Capitol Hill as Seen in the Chart Below:
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