Pelosi disclosure sends Bloom Energy shares up more than 6%

Nancy Pelosi's financial disclosure sent Bloom Energy shares up more than 6% in premarket trading Tuesday. The disclosure revealed Bloom Energy shares and call options purchased through her husband Paul Pelosi's accounts. Barron's reported that the purchases occurred on July 24 and July 28. The disclosure was filed on August 21. Unusual Whales later added the trades to its congressional trading tracker. The purchases covered 15,000 Bloom shares. They also covered 200 call options. The options have a $100 strike price. The options expire in June 2027. Congressional disclosures reported the transactions in ranges totaling $3 million to $12 million. The disclosures do not provide exact amounts. Pelosi's position had gained 26% since the purchases. Bloom Energy reported record second-quarter revenue above $1 billion after the market closed on July 28. The second purchase occurred on the same day. Bloom shares had risen 26.5% by July 30. Bloom traded at $184.89 when 10,000 shares were purchased on July 24. Bloom traded at $166.84 when another 5,000 shares were purchased on July 28. Bloom Energy makes fuel-cell systems for data centers and other large facilities. Quiver Quantitative said Bloom spent $60,000 on federal lobbying during the second quarter. The lobbying covered tax issues involving fuel cells, electrolyzers, hydrogen, and carbon capture. Pelosi's family investments have faced years of scrutiny. Critics have accused the family of benefiting from information available through Pelosi's congressional position. Pelosi has denied insider-trading allegations. Fact-checkers have found no evidence supporting several widely circulated claims about her family's trades. A Pelosi office spokesperson told Barron's that Pelosi does not own stocks and had no knowledge or subsequent involvement in the transactions. The 2012 STOCK Act subjects lawmakers to insider-trading laws. The law generally requires trades above $1,000 to be disclosed within 45 days. The law does not prohibit lawmakers or their spouses from trading individual stocks. Pelosi voted against House bill H.R.700 on July 22. The bill would impose tighter restrictions on lawmakers and their families. The first Bloom transactions occurred two days later.