Hi everyone,
I’m impressed at this insider’s foresight. This CEO and Founder, Matt Ehrlichman, who began buying his own company’s stock in 2022. Evident in the chart of his buys and sells:
stock drops from a 10 dollar IPO to less than a dollar, and what does this guy do? He just kept buying!
He bought approximately 5 million shares at a 1.2 dollar/share valuation, about 6 million dollars worth. (This is just at the lower valuation sub 2 dollars, he bought even more around 4 and 7)
Today, PRCH is trading at about 14 dollars per share. By my estimates, he’s grown that investment about 11.5x – taking 6 million to 70 million in 2 years. Impressive!
Unfortunately, I wasn’t doing this insider trading stuff when he started buying in late 2022, but if I was you can be sure I would post it.
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