Broadcom Inc (AVGO) stocks saw a rise on Wednesday after former House Speaker Nancy Pelosi disclosed a recent purchase of Call options on the semiconductor giant. Pelosi revealed that she purchased 20 Broadcom stock options for a total cost between $1 million and $5 million. These options have an exercise price of $800 and expire on June 20, 2025.
In addition to the Broadcom purchase, Pelosi also disclosed the purchase of 10,000 shares of Nvidia, the sale of 2,500 shares of Tesla, and the sale of 2,000 shares of Visa. All of these transactions took place between June 24 and July 1.
The Broadcom purchase has garnered the most attention, with the stock trending on various social platforms and trading in high volume. Sports stool Founder and stock trader Dave Portnoy even expressed interest in buying $1 million worth of Broadcom stock after learning of Pelosi’s position.
Broadcom’s average session volume is around 3.3 million, and trading volume on Wednesday had already surpassed 2.2 million in less than two hours of trading.
Broadcom shares rose 3.67% to $1,717.30 at the time of publication, according to Benzinga Pro. This positive price action has spurred further interest in the stock, with many eyes on how Pelosi’s trades may impact the market moving forward.
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https://www.benzinga.com/news/24/07/39620788/whats-going-on-with-broadcom-stock-wednesday