Nancy Pelosi crushed it in her Visa IPO trade.
Nancy Pelosi finally sold her Visa shares on June 21, 2022, when shares traded between $193.73 and $196.73.
This was the trade exposed years ago on “60 Minutes,” where Pelosi participated in the Visa IPO, securing 5,000 shares at an IPO price of $44. Visa performed a 4-1 stock split in March 2015, taking the new cost basis on shares down to $11 each.
Based on the price of $193.73 on June 21, the sale was worth $1,937,300. If the shares were from the IPO, they had a cost basis of $110,000, netting a profit of $1,827,300.
Just another profitable trade in the life of Nancy Pelosi. Eat-dirt “60 Minutes”.
According to “60 Minutes”, Pelosi bought the IPO of Visa at a time when vital credit card legislation was on her desk.
Congress: Trading stock on inside information?
Pelosi’s husband, Paul, is a venture capitalist who has made big bets on technology names over the last several years.
The Visa IPO mentioned above led to a call for members of Congress to be barred from participating in IPOs, as it was reported the Pelosis received priority access over others.