Paul Pelosis Bloom trade blossoms what a surprise

Nancy and Paul Pelosi’s amazing track record of picking stocks continues.In July, the power couple bought shares of Bloom Energy, a controversial “green” energy company, right after a sharp drop in price, and right before an upbeat earnings report.And then — surprise! — the company’s stock took off, especially after the company was admitted to the elite list of companies tracked by the S&P 500 index.California's top news, sports and entertainment delivered to your inbox every day.

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Never miss a story The former speaker has denied allegations of insider trading for years, saying she leaves trades to her husband. Paul Pelosi is evidently a stock market savant.That would be the same Paul Pelosi who keeps getting into trouble with the law for his errant driving, including a recent hit-and-run misdemeanor charge.The Pelosi trades weren’t just small transactions, either.

In several trades over several days, they bought at least $3 million worth of shares and options. They must have been really, really confident.Maybe they were just looking at the fact that Bloom Energy has skyrocketed in the last year. It hovered below $20 per share until last summer, as the artificial intelligence (AI) boom took off, and investors realized that all those data centers were going to need some new energy sources.Bloom Energy’s “boxes” use hydrogen fuel cells to generate power.But fuel cells have been one of many disappointing “green” alternatives — until recently.Perhaps the company’s promise of clean, abundant power is finally coming true just as demand is rising.It can’t hurt that the company has long had ties to the Silicon Valley elite — and the political elite. The Pelosi stock trades could be completely legitimate.But they renew questions about whether one of the most powerful political leade...