A post shared on X claims former House Speaker Nancy Pelosi sold all of her Nvidia stocks prior to news that the company is involved in an antitrust investigation.
Verdict: False
This claim is baseless. The last time Pelosi sold Nvidia shares was 2022, according to two sites that track her trading activity.
Fact Check:
The U.S. Justice Department has escalated its investigation into Nvidia and other companies it believes might have violated antitrust laws, sending them subpoenas, according to Bloomberg. Nvidia shares suffered a $279 billion rout as news of this subpoena spread, the outlet reported.
A post claims Pelosi sold all of her shares in Nvidia prior to news of the antitrust investigation into the company breaking. The post shares this news in text format with a siren emoji.
“BREAKING NEWS : Congresswoman Nancy Pelosi dumped her entire Nvidia position just a day before news of an antitrust investigation,” the post reads. “No charges will be filed as everyone knows insider trading is only illegal if you’re not a politician.”
This claim is inaccurate, however. The X post seems to imply that news of the antitrust investigation into Nvidia broke this week, but initial reporting from Politico and The New York Times on the probe dates back to early June.
Pelosi’s Periodic Transaction Report, filed July 1, shows that her husband, not her, were making the financial transactions. Page 20 of its instruction guide shows that “SP” can be used to indicate an item owned by a spouse. (RELATED: Did Nancy Pelosi Buy 7.5 Million In GameStop Stocks?)
Pelosi’s trading activity can be viewed on Quiver Quantitative, a site that allows retail investors to access easy to interpret data, according to its “About Us” page. Quiver Quantitative made an X post addressing the claim, which reads, in part, “We have not seen Nancy Pelosi sell any Nvidia stock recently.” Their website also includes the clarification of the item being owned by a spouse with an “SP” once you click into a stock for more details.
A page on Capitol Trades also tracks Pelosi’s trading activity and shows that the last time Pelosi sold Nvidia shares was September 2022, which again specifies it was owned by her spouse.
A spokesperson for Pelosi denied the Speaker has any stocks.
“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” a Pelosi spokesperson told Check Your Fact via email.