Nancy Pelosi Creates a Buzz by Buying up Shares in the Cyber Security Company Palo Alto Networks (PANW)
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Nancy Pelosi, a household name on the hill and, inarguably, one of the best asset managers in town with a stellar stock-picking record, has set the tongues wagging across the financial community today after disclosing a material position in the cyber security company, Palo Alto Networks (NASDAQ: PANW).
To wit, Nancy Pelosi has now filed the requisite Periodic Transactions report to disclose that she bought 50 Palo Alto Networks call options on the 12th of February and another 20 call options on the 21st of February. Readers can access detailed information about these trades by clicking this link.
Related Story Nancy Pelosi Makes Over $1.4 Million on Her NVIDIA Call Options in Just 84 Days
Do note that these calls carry a strike price of $200 per share. This means that these options remain deep-in-the-money, given Palo Alto Network's current stock price of $311.
Of course, today's disclosure has further buffeted PANW's stock price, which is now up over 10 percent.
Given the palpable excitement that this development has generated in the wider Fintwit community, as illustrated by the fact that the stock has now been included in Zacks.com's list of the most searched stocks, it stands to reason that further gains in the shares of Palo Alto Networks might be in the offing.
We reported on the 15th of February that Nancy Pelosi was sitting on unrealized gains of over $1.4 million vis-a-vis her deep-in-the-money (ITM) call options on NVIDIA. Given the stock's ongoing blistering rally, those gains are only expected to increase for the time being.
Bear in mind that PANW shares plummeted by 28 percent on the 21st of February when it reported healthy numbers for its second quarter of the fiscal year 2024, but reduced the full-year guidance. The company also plans to implement a "strategic shift" by onboarding its customers to a single
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