The resignation of Nvidia founder Jensen Huang due to personal relationships and national security controversies has not only triggered an epic sell-off but also ignited a storm.
Many media outlets have focused on the prior stock sell-off records of U.S. President Donald Trump and several congressional members' families.
The timing of these transactions is extremely sensitive, with some sell-offs occurring right around historical highs.
According to financial disclosure records revealed by the congressional trading tracking platform Trade With Congress and investment data platform Quiver Quantitative, the timing of several Nvidia stock sales is shocking.
Among them, the family trust of California Democratic Congressman Ro Khanna has become the center of attention.
His wife's associated family trust sold Nvidia stock on September 4 and October 7, with both transactions ranging from $1,001 to $15,000.
The sell-off on October 7 occurred the day after Nvidia set its all-time high closing price on October 6.
According to ZeroHedge, these transactions allowed the related trust to avoid approximately a 30% drop in Nvidia's stock price afterward.
The most watched figure is still President Donald Trump.
Data shows that a transaction disclosed by Trump on August 21 involves the sale of Nvidia stock worth up to $1 million, about two weeks earlier than the Khanna family trust's sell-off on September 4.
According to Reuters, Trump purchased up to $1.6 million in Nvidia stock in August while selling up to $1 million.
These transactions are part of hundreds of securities trades he made that month, with the documents signed on September 17 and made public on October 8.
In response to suspicions of insider trading, relevant individuals have denied any wrongdoing, emphasizing the independence of investment decisions.
White House spokesperson Davis Ingle stated that Trump's investment portfolio is independently managed by a third-party financial institution, utilizing recognized indices including the Schwab 1000 index for investment allocation, with all investment decisions made by independent managers.
Khanna's office also denied that he traded based on insider information, with a spokesperson telling the California Post that Khanna and his staff had never received briefings related to Jensen Huang, Megaspeed, or Nvidia's counterintelligence risks.
The spokesperson stated that Khanna only learned of the situation after it was reported by The New York Times, and he did not trade stocks or provide any instructions on the investment decisions of his family trust.
Khanna previously explained that his family's investment assets are held in a diversified trust established by his in-laws before he got married and are managed by an independent third-party trustee.
As media exposure has occurred, a chain reaction has already taken place.
According to disclosure records compiled by investment data firm Quantellect, Texas Republican Congressman Pete Sessions' wife sold Nvidia stock worth between $15,000 and $50,000 on October 2;
Pennsylvania Republican Congressman Dan Meuser's wife sold Nvidia stock worth between $1,001 and $15,000 on September 25;
California Democratic Congressman Gil Cisneros also reported selling Nvidia stock in the same price range on October 20.
These transactions involved different holders and dates, but existing publicly available information is still insufficient to prove a connection in their trading decisions.
Although the law allows important government officials in the U.S. to trade stocks, officials in sensitive areas, combined with the exceptionally outstanding trading results of these important government officials like Pelosi, often raise external questions about potential conflicts of interest.
However, questioning is one thing; proving guilt requires evidence, and currently, there is indeed no evidence showing that these big names' sell-offs of Nvidia avoided a significant drop and involved conflict of interest or insider trading.
Government officials have many types of accounts, with family trusts being quite common, and they usually entrust third-party institutions to manage their trades. The SEC also has complex and cumbersome regulatory processes, with very few cases of officials actually participating in trades, though one cannot definitively rule out potential issues within.
Many questions are likely to be answered as the investigation deepens.
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