A watchdog group is pointing to a stock purchase last month made by Paul Pelosi, a multimillion-dollar venture capitalist who reportedly purchased up to $1 million worth of stocks in Tesla when the price of the company’s stock was about $640 a share. Late last week, the stock’s price had risen nearly $200 a share, closing Thursday at $838 on the NASDAQ.
“It’s corrupt and unacceptable for members of Congress, particularly the speaker, to trade stocks in companies affected by their votes in Congress,” said John Pudner, executive director of TakeBack.org, a conservative group concentrating on pay-to-play corruption.
“Elected leaders from all political parties should live up to a standard of ethics that ordinary Americans see as vital to the country,” he added.
According to a recent financial disclosure filed by the speaker, the couple made 25 stock moves, which are known as call options, allowing her to purchase Tesla at $500 per share up to March 2022. The invested amount was as much as $1 million, the Times reported.
“The timing of the move proved fortuitous,” the paper observed.
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