Jack Hightower, CEO at Highpeak Energy, just made another pretty large stock purchase (+$2.9M at $22/share) on January 4th (form4 link). Then on January 23rd, they announced Strategic Alternatives (i.e. “we are looking at selling ourselves”) and guidance for 2023 and 2024. This caused the stock to pop to over $29/share (+35%). A nice little $900k profit. (He had also bought $1.1M of stock on December 21 and 22 for just under $22 which is also up 35%.)
What makes this particularly interesting is that the only other time Jack bought up a bunch of stock, $1.8M in April 2021, the stock went up 65% in the next 90 days and is currently up over 340% since that purchase.
Dude's got good timing. He's made himself a nice little $7.76M in profit since April 2021. (His stock grants must also be nicely timed because he made $20M on those in 2021 as well)
Data
data from here
His average returns
| Timeframe | Avg Return | Win Rate |
|---|---|---|
| 3 Months after the purchase | 65% | 100% (2 for 2) |
| 1 Year | 240% | 100% (2 for 2) |
| All Time | 89% | 100% (5 for 5) |
His previous purchases
| Date | Num Shares | Price | Total Value | Returns (til now) |
|---|---|---|---|---|
| 2023-01-04 | 131,539 | $22 | $2,893,858 | 35% |
| 2022-12-22 | 14,601 | $21.98 | $320,929.98 | 35% |
| 2022-12-21 | 35,399 | $21.88 | $774,530.12 | 36% |
| 2021-04-05 | 111,973 | $6.75 | $755,817.75 | 339% |
| 2021-04-01 | 164,250 | $6.53 | $1,072,552.5 | 354% |
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