TikTok Users Watch Nancy Pelosi For Stock Trading Tips From Congressional Disclosures

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Psst, do you want a stock tip? Find out what stocks members of Congress are buying. This is what some TikTok users do.

A community of young investors on the social media platform TikTok uses stock market information from House Speaker Nancy Pelosi as a guide for their own investments, NPR reported.

One user of the video-sharing platform called Pelosi “the biggest whale on the market”, while another called her the “investment queen”.

The California Democratic representative has also been described as the “Washington DC corruption matriarch” by Compton Jay, a popular socialist voice on social media. Some have accused her and other members of Congress of enriching themselves by using inside information from pending votes on policies and legislation.

Earlier this summer, Pelosi’s husband Paul Pelosi made a bullish bet on parent company Google, Alphabet, in a deal that grossed him $ 5.3 million. The timing is questionable, according to Compton Jay. The deal came just as the The House Judiciary Committee voted to have more oversight on major technologies.

“The corruption matriarch in Washington DC is back to her old INSIDER TRADING stuff! Work to push through subsidies for electric cars, then buy $ 1 million in Tesla shares. Most of Pelosi’s wealth comes from insider trading, ”Jay Compton tweeted. He hosts “The Populist Voice” on Youtube – an independent left-wing media network of left-wing politics-driven podcast shows, according to its YouTube description.

But TikTok users are taking advantage of her husband’s stock movements, which the speaker must disclose. A spokesperson for Pelosi said the speaker personally did not own any shares and that the transactions were carried out by her husband.

“Screams at Nancy Pelosi, the biggest whale on the stock market,” tweeted @ceowatchlist. Another noted, “I have come to the conclusion that Nancy Pelosi is a psychic,” adding that she is the “investment queen”.

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When TikToker Chris Josephs noticed that Paul Pelosi’s trades were performing well, he started following Nancy Pelosi’s stock disclosures. Under the Equities Act, the Democratic president and other lawmakers must disclose stock transactions and those of their spouses within 45 days.

Josephs is the co-founder of the online platform Iris, which shows other people’s stock transactions. On Iris, you can receive a push notification whenever Pelosi stock trading information is released. Josephs invests personally when he sees which stocks are selected.

“I’m at the point where if you can’t beat them, join them,” Josephs told NPR, adding that if he sees any deals on his disclosures, “I usually buy… the next one she does, I’ll buy.”

In 2020, Tim Carambat created two public databases of legislators’ financial transactions – House stock observer and Senate Stock Observer. Members of the Senate and House have filed more than 4,000 financial transaction disclosures – with at least $ 315 million in stocks and bonds bought or sold so far this year, according to Carambat.

Peolsi is not the only politician to benefit from the internal track. Republican senators Richard Burr and Kelly Loeffler both had inside information about the then-forthcoming covid-19 crisis when they sold shares in January 2020.

Burr sold $ 1.7 million worth of shares. Loeffler, wife of New York Stock Exchange president Jeffrey Sprecher and then richest congressman, offloaded up to $ 3.1 million in stock after getting closed-door briefings on the covid-19 crisis, Fortune reported.


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