Porch Group
🧟 ZombieTrust Size
$200M
Peak Price
$30.00
Current Price
$2.50
Return
-75.0%
Peak Market Cap
$4.0B
What Happened
Home services and insurance platform. Acquired HOA.com and insurance companies. Crashed 92% as insurance losses and rising interest rates crushed the housing-adjacent business.
Porch merged with PropTech Investment Corp II in December 2020. The company pivoted from home services marketplace to homeowners insurance through acquisitions. It aimed to be the one-stop-shop for everything home-related. But insurance underwriting losses were enormous — especially with climate disasters. Revenue grew to $400M+ but losses were even larger. Stock crashed from $30 to $2.50.
Projections vs. Reality
Projected Revenue
$600M
What they told investors
Actual Revenue
$412M
What actually happened
Hype-to-Reality Ratio: 69.0x
Key People
Matt Ehrlichman
CEO & Founder
Serial entrepreneur, pivoted from services to insurance
Timeline
2020-07
SPAC merger announced
2020-12
Merger completed
2021-02
Stock peaks at $30
2022-01
Insurance losses mount
2024-01
Stock at $2.50, restructuring
⚖️ Legal Actions
• Class action lawsuit filed by shareholders
📄 SEC Filings
View all EDGAR filings for Porch Group
Risk Scores
Dilution Score
65/100
Insider Profit Index
52/100
Hype-to-Reality Ratio
69.0x
Projected ÷ actual revenue