Nancy Pelosi Lost Big Money on These Stocks — Here Are The Ones To Avoid
Congresswoman and newly-titled Speaker Emerita Nancy Pelosi is quite savvy when it comes to personal finances. Not only does she have a net worth of about $120 million, as GOBankingRates previously reported, but TikTokers have also now crowned her a financial influencer, looking to her stock market moves as a guiding light. However, a few of her latest losses may change some opinions. The Street recently reported that Pelosi and her husband, Paul, lost $2.5 million in market investments over the fourth quarter of 2022.
See: 2023’s Housing Correction Could Be the Largest Since Post-WWII
Read: 3 Things You Must Do When Your Savings Reach $50,000
Find: How 2023 Recession Will Differ From 2008 and How You Should Prepare Differently
Due to the Stock Act, which was passed in 2012, lawmakers must disclose stock trades within 45 days of the transaction — and include any moves their spouses make as well. And Pelosi, who remains very active in the markets, has a very closely followed portfolio.
The Street reported, based on Quiver Quantitative data, that the Pelosi family’s Q4 losses include:
$853,000 in PayPal stock.
$733,000 on Salesforce options.
$500,000 in Tesla stock.
$235,000 on Roblox options.
All four stocks had a rough fourth quarter last year, for various reasons. PayPal was the victim of continuing supply chain issues that affected online sales at a macro level, per InvestorPlace. Salesforce went through a major restructuring and a round of layoffs, Investors.com noted. Elon Musk’s Tesla suffered somewhat due to the controversial $44 billion investment into Twitter last year, one which made shareholders apprehensive. Lastly, gaming platform Roblox lost quite a bit of revenue from a downshift in daily users, per CNBC.
Take Our Poll: What Are Your Financial Priorities in 2023?
Wealthy Millennials Aren’t Banking on Stocks: Here’s What They’re Investing In Instead
The tide may be shifting though — as of the afternoon of Jan. 27, all four stocks are up. Tesla ticked upward by ~12%, continuing a stock rebound for the EV company.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: Nancy Pelosi Lost Big Money on These Stocks — Here Are The Ones To Avoid
