Benzinga - Along with being known as the former Speaker of the House under four different presidents, Nancy Pelosi is known for being targeted for the trading of stock and options by her husband.
While many of the trades by Pelosi’s husband Paul Pelosi have been successful, one recent trade cost the former Speaker of the House more than her entire 2022 salary.
What Happened: Technology and growth stocks were among the favorite purchases of the Pelosis back in 2021, including an investment in Roblox Corporation (NYSE: RBLX), a video game company.
A new filing shared by CongressTrading.com shows the Pelosis' purchase of Roblox options back in 2021 didn’t turn into a winning trade.
The Pelosis purchased 100 call options in Roblox on Dec. 20, 2021. The options had a strike price of $100 and an expiration of Jan. 20, 2023.
With Roblox shares down significantly from the time of purchase, the filing said the Pelosis lost $303,001, with the options expiring worthless.
The loss from the Roblox options follows a recent reported trade of selling between $100,000 and $250,000 of Roblox common stock. The transaction on Dec. 28 saw the Pelosis sell 5,000 Roblox shares at an average price of $26.05, for a loss of $235,836 on the trade.
A filing showed several large losses on trades at the end of 2022 by Nancy and her husband, including a $511,000 loss on shares of Tesla Inc (NASDAQ: TSLA).
The Pelosis have been traders of Tesla several times before, including buying shares before Congress worked on new clean energy initiatives that could benefit electric vehicle stocks.
Filings in recent history by Nancy have listed the amounts of the losses under the memo line. It's notable that when the trades made were turning in huge profits, the memo line remained blank.
The recent loss of $303,001 likely won’t be significant to the Pelosis, who are worth millions, but is a large loss compared to the former speaker's salary.
As Speaker of the House in 2022, Pelosi received a salary of $223,500. After losing the title of Speaker of the House, Pelosi will collect a salary of $174,000.
Related Link: If You Invested $1,000 In SPY STock When Nancy Pelosi Was Speaker Of The House, Here's How Much You Made
Why It’s Important: Thanks to her husband Paul, who is a venture capitalist, Pelosi's disclosure filings show numerous trades throughout the year.
She has been the subject of controversy, with several of the trades coming weeks or months before major events for certain sectors and the passing of legislation that could help stocks her husband has purchased.
The former Speaker of the House has said she does not share any information with her husband ahead of time.
In 2021, Pelosi ranked as the sixth best-performing member of Congress for stock and options trading based on a report from Unusual Whales. In 2022, Pelosi didn’t fare as hot, falling outside of the top 10 and seeing a return of negative 19.8% on the year, according to the report.
Over the last several years, there have been increased calls to ban members of Congress and their spouses from the buying and selling of stocks and options.
Senator Josh Hawley (R-MO) recently introduced the PELOSI Act, which takes aim at the former Speaker of the House and her well-known family trading activity. The bill is officially known as the Preventing Elected Leaders from Owning Securities and Investment Act. The bill would ban members of Congress and their spouses from holding or trading stocks.
Read Next: Nancy Pelosi Lost Money On 75% Of Recent Trades: Here's Where It Went Wrong
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