It was revealed over the weekend that House Speaker and California Representative Nancy Pelosi had acquired 25 call options for Tesla Inc (NASDAQ : TSLA) purchased at a share price of $500 and are set to expire March 18, 2022. Pelosi reportedly paid between $500,000 and $1,000,000 for the Options.
The ability of members of the U.S. Congress to buy and sell stocks has been contentious over the years. One of the most prominent members made some purchases in December that could benefit from the new Biden administration.
Right After Nancy's Move Into TSLA, Biden Makes Announcement Causing Share Price To Rise...
Wow - Nancy sure has perfect timing!
Tesla shares increased from $640 at the time the calls were bought and went up to $890 today. The call options were valued at $1.12 million.
Biden's push for electric vehicles, which could include lifting the cap on sales, would give buyers tax credits, to Tesla's advantage. Biden also floated the idea of a program that exchanged used vehicles for a larger credit towards the purchase of an electric car.
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While Most Citizens Will Never Hear About This, Others Are Frustrated By The Apparent Corruption...
Pelosi's conflict will continue, and even intensify as clean energy initiatives that her family could benefit from will soon be on her desk, possibly in several segments. Each bill passed will equal a big personal payday for the speaker.
Online, global warming activists were seen saying on a forum "This basically hands talking points over to the republicans. I can hear it already 'Sure, Nancy is worried about the environment - and it just happens she gets rich if go along with her agenda, right?'.
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Author: Don Kennedy
Austin Newsdesk
