PropTech Acquisition Co.’s (NASDAQ:PTAC) Lock-Up Period To Expire on November 11th

PropTech Acquisition’s (NASDAQ:PTAC) lock-up period is set to end on Wednesday, November 11th. PropTech Acquisition had issued 16,000,000 shares in its initial public offering on May 15th. The total size of the offering was $160,000,000 based on an initial share price of $10.00. After the expiration of PropTech Acquisition’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on PropTech Acquisition in a research note on Monday, September 28th. They issued a “sell (e)” rating for the company. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, PropTech Acquisition has an average rating of “Sell”.

PropTech Acquisition Trading Down 0.1%

PropTech Acquisition stock opened at $9.99 on Friday. PropTech Acquisition has a twelve month low of $9.74 and a twelve month high of $10.10. The company has a 50 day moving average of $9.78 and a 200-day moving average of $7.97.

About PropTech Acquisition

PropTech Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with a business operating in the real estate technology sector. Unlike an operating company, its primary activity before completing a transaction was raising capital through a public offering and searching for a suitable merger or acquisition target.

PropTech Acquisition Corp. entered into an agreement to combine with Porch.com, a technology platform serving the home services and residential real estate markets.