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 ...
Intentional misspellings that took on a life of their own.....like a stuned beeber.
Her nephew put restrictions on the winery business thus causing a depreciation of that venture
A smelly stock of course
Pretty sure the “Diamond Hands” at “WallStreetBets” came up with “Stonks”:
https://www.reddit.com/r/wallstreetbets/
and
https://marketrealist.com/p/wallstreetbets-lingo-guide/
https://housestockwatcher.com/summary_by_rep/Hon.%20Nancy%20Pelosi
Total trade volume (2Months) ~$51,640,024.00
“They’re centi-millionaires. They need to make more money?”
Sick, sick, sick.
Just making sure that multi-generations behind them will continue to spread the same errors.
>Apparently it’s a deliberate misspelling for stock, like hodl for hold, and it stukc, I mean stuck. Stock traders are goofballs.
From the site that spawned such gems as the Zot, the stuned beeber, series, hugh, etc.
:D
LOL!
You’re a mean one, Mrs. Grinch. Stink, stank, stonk!
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