• Sat. Aug 13th, 2022

Michael Burry Says Nancy Pelosi’s Nvidia (NVDA) Stock Buy Should Be Illegal

ByShivdeep Dhaliwal

Jul 21, 2022
Michael Burry Says Nancy Pelosi's Nvidia (NVDA) Stock Buy Should Be Illegal

“Big Short” fame investor Michael Burry said U.S. House Of Representatives Speaker Nancy Pelosi “made a bundle” on semiconductor stocks she recently purchased because she knew a key bill would make it through the Senate.

What Happened: Burry made his comments on Twitter on Wednesday. He said tagging the Democrat politician, “So @SpeakerPelosi made a bundle on semiconductor stocks bought recently. Should be illegal.”

Screenshot of Michael Burry’s Twitter Post On Nancy Pelosi

Burry also shared a news report on the Senate passing a bipartisan bill, which would subsidize domestic semiconductor production with a $52 billion support.

See Also: How To Buy NVIDIA (NVDA) Stock

Why It Matters: Pelosi and her husband Paul Pelosi recently came under the scanner for exercising an option to purchase 200,000 shares of Nvidia Corporation NVDA. The June 17 transaction was valued at between $1 million to $5 million. 

Recently, former computer intelligence consultant Edward Snowden also criticized Pelosi for her Nvidia trade and said “ordinary Americans are hurting, but it looks like Congress is doing just fine.”

Burry has also hit out at another key democrat recently. He said President Joe Biden was “greasing” wheels for Saudi oil.

Price Action: On Wednesday, Nvidia shares shot up 4.8% in the regular session to $178.07 and fell 0.8% in after-hours trading, according to data from Benzinga Pro.

Read Next: Why Michael Burry Sees Long-Term Inflation, Bigger Market Crash Ahead

Photo by Alexandros Michailidis on Shutterstock



Image and article originally from www.benzinga.com. Read the original article here.