Pelosi to cash in on Biden’s electric car mandate

The latest financial disclosures of House Speaker Nancy Pelosi include a recent stock option buy that could result in a financial windfall for the California Democrat thanks to a Biden administration electric car executive order just issued.

According to the disclosure, the California Democrat (or her husband, Paul, who heads up a venture capital firm) purchased 25 Tesla call options. The options were purchased at a stake price of $500 and expire March 18, 2022. The speaker bought between $500,000 and $1 million in options.

Since the call options were purchased back in December, Tesla shares have risen from $640.34 to over $890. The options are now worth $1.12 million. 

President Biden, earlier in the week, put forth his “Buy American” executive order. The proposal includes a provision to replace the U.S. government’s fleet of cars and trucks with American-made electric vehicles. Tesla is among three car manufacturing companies that assemble electric vehicles in the United States. Read more…

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