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This is the key reason I continue to own $AXSM from $2 to $100 to $70 to ? - the ceo/chairman has owned 8m shares since company founding and has never sold a single share. The value of his holdings went from $16m to $800m & comprise virtually his entire net worth. https://twitter.com/chamath/status/1328740843625140224
On a less grand scale but still very significant is that despite big stock option grant, $XAIR CEO/chairman bought > 800,000 shares of stock with own funds & insiders own 15-20% of shares (only non-ceo insider sales related to foreign founders tax payments).
This is also why I’m very bullish on $IPOC $SPCE & $IPOB because @chamath added an additional $100m of his own personal funds to each for longterm returns & has demonstrated huge track record well ahead of Buffet with $TSLA & $AMZN when there were skeptics abound.
IMHO, $IPOC $IPOC/WS warrants look especially attractive at $1.60 around @chamth sponsor investment. 5-year warrants strike at $11.50. @clover_health should be growing well north of 35% over next 5 years. If stock doubles over this time to $20, return on warrants should be 5-6x.
To give credit where credit’s due, @chamath $IPOC was 1 of the 1st recs of my son @rationalDuck since he spent the summer reading 5-6 books & educating himself on investing. His 1st pick 7 years ago was $TSLA at $7 pre-split. I learned that to ignore him is at my peril.
