Did Nancy Pelosi's Husband Buy Tesla Stock Ahead of Electric Car Mandate?

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Greg Fitzsimmons

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Greg Fitzsimmons is a stand-up comedian, actor, and writer. He's the host of "Fitzdog Radio" podcast and co-host of the podcasts "Sunday Papers" and "Childish." www.gregfitzsimmons.com

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The amount of stock trading that's done by members of Congress, the amount of fucking money that they make when they know decisions that are going to be signed and passed, they know laws that are going to be put into place. They know, like there was one recently that we're talking about Nancy Pelosi and the amount of money she invested in Tesla right before Biden signed this EV bill, electric vehicle bill. Like 1.2 million, find out if that's true. They should all have to put their money in trusts while they're in office that are done in fucking mutual funds, index funds, things that are auto-generated buying and not individual stocks. Well, insider trading is against the law. How is that not insider trading? If you know that someone's going to sign a bill and that bill is going to be a massive boost to the electrical vehicle industry, just as an example, and you know that bill is going to be signed so right before that bill signed, you buy a fuck load of stock in electrical vehicles and then the next day or whenever it was, that bill gets passed and then that stock goes up and you make a shit ton of money, how is that not illegal? They put Martha Stewart in jail for stock trading. Yeah, right. Remember that? For illegal insider trading? Yeah. How is it what the Congress does? How is that? They should not be able to buy and sell individual stocks. That's it. Especially not shit where they have inside taxes. And then keep an eye on their fucking brother-in-law too because they're making some phone calls. Exactly, or their husband. Yeah. Yeah. Well, that's the Nancy Pelosi thing. Yeah. She's worth like $200 million. She makes a couple hundred grand a year. Jesus. That's crazy. I need an inside tip, man. I got one inside tip in my life from a friend of mine. He was a guy I went to high school with and then he was on Wall Street. He never gave me any stock tips. And then I got my first development deal and he calls me up one day and he whispers. He goes, I'm not going to say the stock number because I don't want him to get in trouble. But he gave me the inside tip and I bought it at 15 and I put a lot of money in and it went up to 20 and then it doubled and then it doubled and then it doubled and it was all the way up to like $350 a share. And I said, my strike price is $400. I'm fucking selling this at $400. I would have made hundreds of thousands of dollars and then it went $325 and then it went $250 and it came all the way. I sold like half of it on the way down. So I made some but it came all the way down. This all happened within a month. It went up and down like that. Oh, it was a pump and dump. Is that what it is? Yeah, they do that. They trick people into buying the stock and then a bunch of people also buy the stock. Stock price goes up and then you sell. And then- That was what happened with like GMC and- Hold on. Pelosi's husband invested in Tesla but not as viral post claims. Okay, so it's bullshit. House Speaker Nancy Pelosi purchased $1.25 million in stock from the electric vehicle company Tesla. A day later on January 25th, President Joe Biden signed an executive order requiring all federal vehicles to be- excuse me. A day later after she buys $1.25 million in stock on Tesla, Biden signs an executive order requiring all federal- why can't I say this? Federal vehicles to be electric. It says partly false. It's true that Pelosi's husband invested up to a million dollars in call options for Tesla stock in December according to the financial disclosure documents. Claims that the representative bought $1.25 million in shares one day before Biden's executive order are inaccurate. The facts. A viral meme wrongly accusing Pelosi of investing millions in Tesla the day before Biden signed an executive order on electrical vehicles circulated widely on Facebook on Monday with millions of views, more than 275,000 shares. The Post paired a picture of Pelosi next to a photo of Biden signing the order. In some versions of the Post, the banner over the top of the images used sarcasm to eloquently- to obliquely rather suggest Pelosi engaged in insider trading, reading, wow, what are the odds of that? Talk about luck. What are the odds? Keep going. It's true that the husband, Paul Pelosi, made a Tesla investment recently according to the House Speaker's financial disclosure documents published on January 21st. However, the date and the amount of the investment don't match the claim that's circulating wildly online. According to Pelosi's latest periodic transaction report filed with Congress, her husband on December 1st invested between $500,000 and $1 million in 20- so it's only off by a little low, and 25 call options for the Tesla stock at a strike price of $500 in March of 2022. Call options are financial contracts that give the buyer the right to buy shares of a stock for a certain amount, the strike price until a set expiration date. Biden signed his executive order directing federal officials to transition federal state, local and tribal government fleets to clean and zero emission vehicles on January 27th, more than a month after Pelosi's husband made the investment. Yeah, but for sure she knew he was going to do that. That's only a month difference. I was not saying a day later, it's still a million dollars and it's a month later. So it's inaccurate in a sense, but it's accurate that they had to have been discussing. Well, it's also one of the most widely traded stocks in America. True. It's a giant decision that's made that boosts the stock significantly, and for sure she has an insider track on it. And also, how'd you get a million bucks to invest? Where's that coming from? How much is she worth? $300 million or something? Where'd she get that? Trading. Yeah. It's all trading. What does her husband do? Is he a trader? That's a good question. I don't know. He's really good at it if he's a trader. You know you can mirror Pelosi or anybody's trades. You can track what they hold in their portfolio. Can you just buy what they buy? You can buy exactly what they buy. Oh, you'd be killing it. It's federal. People do that at the show on TikTok. Like, I'm just buying what they buy. Good move. Killing the game. That's a good move. Just follow Pelosi. Buy what that lady makes. Maybe she's just a genius. Maybe. But so it seems like he bought a million dollars worth of stock a month before they signed that order. That seems like that should be an issue. That seems like it's controversial. Those kind of decisions are discussed. Like transitioning the entire fleet to electric vehicles. That's not something someone comes up with on a whim the day before they write that down and say it in front of the world. That's something that gets discussed. I assume. Wouldn't you assume? I don't know if ... Who knows? I know that I was going to buy Tesla and my broker talked me out of it and then it fucking went crazy. Your broker talked you out? Yeah. He said that the fundamentals were bad. Their supply chain wasn't going to be there when they couldn't meet the needs of all the Teslas that they were selling, which was all wrong.