Breaking: Pelosi sells $8.25M of Tech Stocks 📈
Click in to see her Updated Portfolio after the sales
Just a couple days after sharing some eye raising “insider trades” of our politicians, the most well known Political trader jumped back into the lime light. Let’s just straight into it:
Nancy Pelosi just reported that she sold up to $8.25M worth of stock during the last week of 2022 (we will get into why soon).
Sales include:
12/28/22 sold 20,000 AB 0.00%↑ shares —> loss of -$11K
12/28/22 sold 30,000 GOOGL 0.00%↑ shares
12/30/22 sold 2,000 NFLX 0.00%↑ shares —> loss -$133K
12/21/22 sold 10,000 PYPL 0.00%↑ shares —>loss -$850K
12/28/22 sold 5,000 RBLX 0.00%↑ shares —> loss -$235K
12/30/22 sold 5,000 TSLA 0.00%↑ shares —> loss -$511K
12/20/22 sold 130 CRM 0.00%↑ calls —> loss -$733K
12/21/22 sold 10,000 DIS 0.00%↑ shares —> loss -$114K
Kudos to her for being more transparent about her trades, but one thing to note is she never shares how much she profits: she only shares her $$ losses. Classic.
Below is an updated look at her portfolio based on % allocation:
Regardless, we wanted to share this info with the community. Now the next question is why sell for a loss when these companies not only are solid but also have been beaten down already? To be honest, it could be a number of things. A raising interest rate environment for tech doesn’t mix well. Consumer demand would drop if a recession occurs, which compresses earnings which thus compress multiples.
But, the real reason why we think she’s selling is this: Tax Harvesting. Subscribe below to receive the a formal report on what it is, how she’s doing it, and what we think she will do next. 🤝