Jun. 19 at 10:57 PM
$HIPO
I think the market and analyst community are completely misreading this company.
Feels like
$DAVE 2.0 to me when analysts ignored the turnaround story until they had to chase it in the triple digits.
Across Hippo (500m + the 100m from the sale of their homebuilder channel), Spinnaker with a ~
$200M surplus and with essentially 0 debt they are trading at cash while signalling to the market that they will be running a
$125M adj. Net income surplus in 2 years and profitable this year.
They just bought back 500k shares at 28 and change and have another 18m on the buyback allotment as it stands.
Dave IPOed via spac at a 4bn valuation in Jan 2022. Hipo went public at a 5bn valuation via spac in 2021.
De-spacs can be brutal but timing is everything.
Buying and holding in the LT account.
