Porch SPAC IPO: Lowe’s Dumps 16M Shares – Should $PRCH Be Bankrupt?
Porch, a platform that that connects homeowners with local home improvement contractors, has gone public through a SPAC merger with PropTech Acquisition Corp.. Alex discusses Porch’s poor financials including the CEO’s $240 MM windfall after a fire sale of shares by home improvement retailer Lowes. Moazed, flabbergasted by Porch’s abysmal revenue numbers that are on the brink of financial ruin, can’t decide which recently IPO’d company he dislikes more, Wish or Porch.
This is an excerpt from episode 134 of Winner Take All. Watch the full episode here: youtu.be/4D-6RqJkyHs
Originally Aired: 12/28/20
#SPAC #PorchStock #PropTech
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