“where are UPST insiders”?
Not sure if you noticed Paul Gu did another option to stock conversion this month.
He did the same thing in March last year and July last year, both times before the stock ran up… (and he also sold a lot of stock after run up… but that all insiders did)
in case you dont recognize, these options expire not before 2027… and they are at strike <$3… so when he converted something in low $100s, he has to pay regular income tax this year for pretty much whole amount… for the luxury of holding it…
the only reason anyone does this (and it is rare of rare… even more rare than buying in open market), is that the person is very very confident that stock price will be much much higher from here… and that he can hold it for > 1 year so when he actually sells it, he pays long term capital on appreciation from here (from low $100s)
And this guy is their AI genius… enough said!