Nancy Pelosi's husband sold more than $500K in Visa stock ahead of DOJ action

Published On Sep 25, 2024, 3:36 PM

Paul Pelosi, husband of former House Speaker Nancy Pelosi, sold over $500,000 worth of Visa stock on July 1, ahead of a Department of Justice lawsuit against the company. The DOJ filed an antitrust lawsuit against Visa, accusing it of maintaining an illegal monopoly on the U.S. debit card market. This sale has garnered scrutiny, especially considering Paul Pelosi's history of trading around politically significant events. Nancy Pelosi's office has stated that she does not own any stocks and that she had no knowledge or involvement in her husband's stock transactions.

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Given the recent DOJ lawsuit against Visa, the company may face increased scrutiny and regulatory challenges that could negatively impact its stock performance in the near term. Investors might consider this an opportunity to sell or avoid purchasing Visa shares until the situation stabilizes.

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