Posted on 10/03/2021 3:06:49 PM PDT by T Ruth
Move over GameStop and dogecoin, the investing world has a new meme: Nancy Pelosi, the Speaker of the United States House of Representatives, and star stock-picker.
Pelosi has become a regular feature on the biggest financial meme pages such as Litquidity and Parik Patel. And investing TikTok accounts are getting tens of thousands of views on clips about Pelosi's moves in the market. But why?
A fateful Alphabet bet
Central to the story of how Pelosi became the biggest meme on Wall Street is US legislation that forces lawmakers to disclose their and their family's trading activity. It means the general public can view Pelosi's - or, more specifically, Pelosi's husband's - often highly successful trades.
Pelosi has reported many stock trades carried out by her husband, Paul, over the last few years. But his trading activities shot into the news in July, when he made a cool $5.3 million by exercising call options that let him buy 4,000 shares of Google parent company Alphabet.
The trade was highly controversial. That's because it came just before the House Judiciary Committee voted on antitrust regulation, which ultimately wasn't seen as a big threat to the tech titans.
Spokespeople for Speaker Pelosi told media outlets at the time that she had no knowledge of the purchases and that she owns no stock herself. Insider contacted Pelosi's office but received no reply.
Although she didn't break any rules, the trades were seen as fishy by many, and two memes based around Pelosi quickly sprung up. One is that the 81-year-old is a high-rolling, risk-taking star trader. Another is that she's making the big bucks off of insider information.
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(Excerpt) Read more at markets.businessinsider.com ...
acceptable INSIDER TRADING
acceptable fraud by the DNC
acceptable genocide by the DNC and RINOs
acceptable TREASON by the same.
this will not end well.
What’s a Stonk?
They live in San Francisco (some of the time anyway, supposedly) and probably know a lot of wealthy people that know a lot of wealthy people who know a lot about Bay Area companies.
Stock picking advice gets tossed around when rich folks chat.
I don't know. A contraction of "stock-picking skank"?
Congress all have inside information, legal for them - jail for us.
> What’s a Stonk?
Millennial-speak for stock?
It’s something that got by the editor.
Apparently it’s a deliberate misspelling for stock, like hodl for hold, and it stukc, I mean stuck. Stock traders are goofballs.
The only reason Nancy is still a congress critter is to fill her bank account
Gen Z more like
Queen of Stank.
Pelosi has reported many stock trades carried out by her husband, Paul, over the last few years. But his trading activities shot into the news in July, when he made a cool $5.3 million by exercising call options that let him buy 4,000 shares of Google parent company Alphabet.
The trade was highly controversial. That’s because it came just before the House Judiciary Committee voted on antitrust regulation, which ultimately wasn’t seen as a big threat to the tech titans.
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If you or I did this, we’d face jail time for insider trading. Congress exempts itself from insider trading.
Maybe a misspelled stocks?
Isn’t it strange the long time members of Congr4e$$ that make about $170,000 a year end up multi-millionaires?
It’s stronger drink than money.
She is running the nation.
If EITHER political party gave a damn for the nation, instead of investigating businessmen millionairs that become politicians, they would investigate politicians that become millionairs! But neither the RATS nor the REPUBLICANS want their rice bowls broken.
They are ALL scumbag crooks!!!!
And don’t give me that Congressmann X or Senator Y is honest BS. If that were true they would be screaming about it from the rooftops....but all I hear are crickets.
They ALL suck!
The Queen of insider trading.
A stock owned by stinky rich Pelosi.
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