- Day traders are keeping an eye on what Paul Pelosi, spouse of the Speaker of the House, is trading.
- Social investing app Iris allows retail traders to track what celebrities, like Pelosi, are doing.
- His investments, like Crowdstrike, Tesla, and Alphabet, have all been successful, Iris’ cofounder said.
- See more stories on Insider’s business page.
Retail traders are watching what Nancy Pelosi’s husband, Paul Pelosi, is doing on the stock market to help them decide what to do next.
His stock picks have been quite successful, Christopher Josephs, cofounder of social investing app Iris, told Yahoo Finance, saying that every trade “inevitably turned out to be such a long term winner.”
It started with Crowdstrike in 2020, then Tesla, followed by Alphabet, then Nvidia, he told the outlet, noting that each of Paul’s disclosed positions has gained 20% to 30% since the initial investment.
Last month, Insider reported that Pelosi, the Speaker of the US House of Representatives, and her husband came into the investing spotlight as memes on Twitter and TikTok.
That followed July news that Paul made $5.3 million by exercising call options to buy 4,000 shares of Google parent Alphabet just before the House Judiciary Committee voted on antitrust regulations.
“If they’re the ones passing the laws, it’s probably smart to keep up and see what they’re buying,” Josephs told Yahoo adding that lawmakers may know something retail traders don’t.
Iris, a social investing app, tracks those trades. The app, which has more than 50,000 users according to its website, allows people to connect a brokerage account such as Robinhood to Iris to show what they’re trading and see what others, such as celebrities and influencers, are trading themselves.
“Invest together with your family, friends, and brilliant people all over the world. Get real-time notifications when others make trades and copy their moves,” the website says.
In Paul Pelosi’s case, lawmakers are required to disclose their and their family’s trading activity, allowing the general public too see his stocks.
Iris did not immediately respond to Insider’s request for comment, nor did a representative from Speaker of the House Nancy Pelosi’s office. In a statement to Yahoo Finance, Speaker Pelosi’s office said she doesn’t own any stocks and has no prior knowledge in any transactions.