NVIDIA Corporation (NASDAQ: NVDA) shares surged during intraday trading Wednesday after Nancy Pelosi made a substantial stock purchase.
Congresswoman Nancy Pelosi, representing California’s 11th congressional district, has recently made notable adjustments to her investment portfolio, with substantial transactions involving major tech and financial companies.
On June 24, 2024, Pelosi acquired 20 call options for Broadcom (NASDAQ: AVGO) with a strike price of $800 and an expiration date of June 20, 2025. The value of this transaction ranges between $1,000,001 and $5,000,000. Broadcom, a global semiconductor and infrastructure software products supplier, has recently attracted considerable interest from investors.
Following this, on June 26, 2024, Pelosi demonstrated her bullish stance on technology by purchasing 10,000 shares in NVIDIA Corporation. This transaction also falls within the $1,000,001 to $5,000,000 range. NVIDIA is a renowned tech company that develops cutting-edge graphics processing units (GPUs) and engages in advancing artificial intelligence computing.
In contrast to her purchases, Pelosi also made significant sales. On the same day as her Broadcom transaction, she sold 2,500 shares of Tesla (NASDAQ: TSLA), the EV giant. The estimated value of this sale ranges between $250,001 and $500,000.
Further adjusting her portfolio, on July 1, Pelosi partially sold her holdings in Visa (NYSE: V), a global financial services corporation, on July 1, 2024. The transaction involved 2,000 shares, worth between $500,001 and $1,000,000.
Pelosi’s recent trading activity highlights her strategic shift towards key technology stocks, showcasing her belief in the long-term potential of companies like Broadcom and NVIDIA. These moves also indicate a reallocation of assets, potentially seeking to balance her portfolio amid changing market dynamics.
NVIDIA (NASDAQ: NVDA) Stock Price Action
NVDA stock jumped 4.57% on Wednesday, closing at $128.28, marking a 1.49% increase for the week. The trading volume was 215,748,960 shares, significantly higher than the average daily volume of 422.67 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
