Financial Associated Press (Shanghai, editor Shi Zhengcheng) news, although the US Congress is still in the holiday stage, but the latest information disclosure documents of House Speaker Pelosi show that her husband Paul bought a million dollars worth of US stock options.
Between Dec. 17 and Dec. 21, Paul Pelosi bought call options from Google's parent companies Alphabet, Micron Technology, Robles, Salesforce and Disney between Dec. 17 and Dec. 21, which expire in September 2022 and January 2023, respectively, the documents show. Call options give buyers the right to buy stock at the strike price before a certain time, but the buyer has no obligation to oblige the purchase.
In addition to the shares, Paul also bought up to $100,000 in a private limited company called REOF XX, which is mainly engaged in real estate investment activities.
Of course, as the owner of a real estate and venture capital, consulting firm, Paul Pelosi is perfectly legal to invest in the stock market. The reason for the market attention is that he often buys some companies that his wife supervises and makes a lot of money.
As speaker of the House of Representatives, Pelosi was also asked at a press conference on the 15th of this month whether members of Congress should be restricted from buying stocks. She stressed very firmly that "members of Congress should have the right to participate in this market under a free-market economy." On the issue of her husband buying stocks, the tone of Pelosi's office has always been that the Speaker himself does not participate in stock trading, and he did not know that there had been these transactions before the information was made public.
However, because Paul often bought and sold some popular large-cap stocks, it often triggered the media to associate his trading with the legislative process. On June 18, for example, Paul exercised his right to buy 4,000 shares of Alphabet at $1,200 a share, and just a week earlier, on June 11, the House Judiciary Committee advanced a series of bills restricting tech giants. The options were purchased by him in February 2020.
Back in March, Paul also bought $2 million in Microsoft stock at Microsoft to finalize a $22 billion AR combat helmet order for the U.S. Department of Defense; in January, paul also bought up to a million dollars worth of Tesla stock before the new Biden administration announced subsidies for electric vehicles.
Thomas Hayes, chairman of asset management firm Great Hill Capital, commented on the Speaker family's latest deal, saying that most of the options were in late 2022 and early 2023, showing that Pelosi believes these tech stocks can continue the current bull market in 2022 and try to continue to ride the wind. They live in San Francisco, a place that is very fanatical about tech stocks, and you can see that the Speaker family is encouraged by this sentiment.