Yesterday, federal investigators launched an investigation into Senate Intelligence Chairman Richard Burr and Senator Kelly Loeffler over allegations of insider trading, but these are not the only members of Congress who cashed out after they had learned classified information. Speaker Nancy Pelosi and her husband have already made millions after making a questionable purchase of $5 million dollars in amazon stock, right before a majority of retailers in the country closed their doors.
The purchases took place the same time closed-door meetings on the coronavirus were being conducted in Congress, and Speaker Nancy Pelosi has already amassed $1.1 million dollars in profit from the exchange in just a matter of weeks.
Check out what True Pundit reported below:
Speaker of the House Nancy Pelosi and her husband are cashing in already on $5 million of Amazon stock purchased during the time frame that closed-door coronavirus meetings were being conducted in Congress.
As of Tuesday morning, the Pelosi stock purchase had already earned the couple $1.1 million in less than 10 weeks. The Amazon share price climbed close to $2,000 on Tuesday. Paul Pelosi, the speaker’s husband, got in at a price of $1,600 per share and grabbed 3,000 shares on Jan. 17, according to financial disclosure filings.
Additionally, Paul Pelosi held 40 additional call options on Amazon stock too and sold those on Jan. 17 as well, netting him between $500,000 and $1 million, filings shows.
This, combined with the previous stock purchase from Nancy Pelosi, adds up to nearly two million dollars in profit made off of Amazon stocks for the couple, thanks to a large portion of retailers in the United States recently closing due to the coronavirus.
While many companies have struggled significantly with the economic impact of the coronavirus, Amazon seems to be one of the few companies to actually seeing an increase in profit given the circumstances.
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