When it comes to insider trades in US politics, the Member of the U.S. House of Representatives from California Nancy Pelosi often comes to mind first.
With her extensive political career spanning decades, Pelosi has cultivated invaluable connections and access to insider information on many high-profile companies. Additionally, her presence on committees overseeing legislation with potential impacts on the stock market gives her an edge over regular traders.
Leveraging this knowledge, Pelosi has consistently made significant gains over the years, accumulating wealth estimated to around $240 million through well-timed investments.
Just yesterday, on May 2, the former House Speaker set another record with a daily gain of $2.59 million, marking the highest daily gain recorded on the Quiver Quantitative insider trade tracking platform.
Which holdings aided Pelosi’s net worth daily gain
Pelosi’s success hinges heavily on her preference for technology stocks during the AI revolution.
Her significant holdings in companies like Nvidia (NASDAQ: NVDA), Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOG), and Tesla (NASDAQ: TSLA) have paid off, with each posting positive earnings reports recently (except TSLA, which surged despite missing earnings).
Adding to her gains is Pelosi’s recent investment in Palo Alto Networks (NASDAQ: PANW), which has surged nearly 10% over the past month. The trend continues, as evidenced by its latest close, where it saw a 2.78% increase.
Another Democrat from the list posted a substantial daily gain
Among the list of daily gains among US politicians, another Democrat from California, Sara Jacobs, stands out. Despite not making any trades in the past two years, Jacobs is seeing significant returns on technology giants that overlap with Pelosi’s portfolio.
It appears that the recent strong performance from members of the ‘Magnificent Seven’ has further enriched the wealthy.
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Source: https://finbold.com/nancy-pelosi-makes-2-6-million-with-stocks-in-a-day/