Outgoing former House Speaker Nancy Pelosi (D-CA) and her propensity to spot winning stock trades apparently has worn off on her Democratic colleagues.
News surfaced that one of Pelosi’s fellow Dems, purchased at least six figures worth of stock in Netflix — just weeks before the streaming giant announced its huge acquisition deal with Warner Bros.
According to now public House financial disclosures, Rep. Cleo Fields (D-La.) bought between $500,000 and $1.25 million worth of Netflix stock from Oct. 31 to Nov. 20.
The conveniently-timed purchases came just weeks before Netflix announced last Friday that it is purchasing Warner Bros and its assets, such as HBO Max, for $82.7 billion in a mega deal.
Fields made five purchases listed in filings between $100,001 and $250,000 on Oct. 31, Nov. 3 and Nov. 20, financial disclosures show. The filings do not provide exact amounts.
His Oct. 31 transaction was when Netflix’s shares were at their highest during his purchases, at $111.89 apiece.
The company’s stock closed out Wednesday at $92.71, marking a roughly 17% dip from the October purchase.
Fields also made investments in other tech or electronics companies during that time period, including Apple, Google’s parent company Alphabet, and Nvidia.
So far, he is the only lawmaker to have disclosed a Netflix stock purchase within the past month, records show.
House GOP Conference Chairwoman Lisa McClain (R-Mich.) listed two sales of Netflix stock valued between $1,001 and $15,000 from her 401(K) on Oct. 30 and 31. She also made one purchase of Netflix stock for the same range on Oct. 30, records show.
She is the most recent lawmaker to have traded Netflix stock besides Fields.
Ironically, Netflix’s stock has dropped significantly in the time since Fields’ purchases amid uncertainty over the deal and Wall Street’s concerns about a bidding war, and that the deal could be stopped by the Justice Department amid Paramount’s efforts to upend the deal and encourage the Trump administration to nix it.
Fields’ purchases come against the backdrop of a bipartisan push in Congress to ban members from trading individual stocks — a campaign led by Rep. Anna Paulina Luna (R-Fla.)
Pelosi has been at the forefront of legislation pushes like Luna’s.
She and her husband Paul’s investment strategy has drawn frequent scrutiny for almost perfectly-timed trades over the years in technology stocks.
The couple’s net worth is estimated between $250 million and $290 million. Nancy Pelosi’s congressional salary is a more modest $174,000 as a rank-and-file member of Congress.
Nancy Pelosi recently announced she will not run for re-election to Congress in 2026, ending her long tenure in the House of Representatives.
Fields did not comment on his stock purchases at the time of publication.