Nancy Pelosi reports $3-12 million Bloom Energy purchase ahead of S&P 500 surge
Former House Speaker Nancy Pelosi disclosed that her household bought between $3 million and $12 million of Bloom Energy shares and call options in late July, just before the company’s addition to the S&P 500 sent the stock sharply higher.
Nancy Pelosi filed a financial disclosure showing that her family invested between $3 million and $12 million in Bloom Energy during July, acquiring both shares and call options through accounts owned by her husband, Paul Pelosi. The first purchase of 10,000 shares and 100 calls occurred on July 24 when the stock closed at $184.89, and a second purchase of 5,000 shares and another 100 calls was made on July 28 after the price fell to $166.84 and the company posted strong earnings with 165% revenue growth.
Bloom Energy’s stock then surged, and the firm’s pending entry into the S&P 500, announced on September 4, pushed the price up nearly 40% to $282.10. Pelosi has repeatedly rejected insider-trading accusations and supports legislation to prohibit members of Congress from holding securities. Critics note the timing raises ethical concerns, especially as the company’s fuel-cell technology benefits from the AI data-center boom. The disclosure also references the STOCK Act’s filing requirements and minimal penalties for late reports.
Why it matters
The timing of Pelosi’s disclosed trades raises questions about lawmakers’ access to market-moving information and the need for stricter ethics rules.
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