CEO Tan Chenlong bought 10,000 shares of iPower Inc. at $0.68 on 2024-11-26; stock down -48.0% in 30 days, -39.2% in 90 days.
TAN CHENLONG, CEO & Chairman, purchased 10,000 shares at $0.68 on 2024-11-26, increasing his holdings from 8,063,334 to 8,073,334 shares. This transaction occurs amid significant price deterioration: the stock has declined -48.0% over the past 30 days and -39.2% over 90 days, currently trading at $189.82 (76.0% below its 52-week high of $792.00). Notably, his prior 3 purchases at iPower showed a 100% win rate at the 90-day mark, with purchases on 2023-05-31, 2023-06-01, and 2024-05-21 followed by returns of +25692.7%, +26409.6%, and +21181.6% respectively over 90 days. However, the company remains unprofitable with net income of -$2,029,281.00 in the latest quarter and -3.2% annual revenue growth, creating a material disconnect between the insider's demonstrated historical timing acumen at this ticker and current fundamental weakness. The purchase sizing (10,000 shares; +0.1% of holdings) is modest relative to his 8.07M share position, and given the sharp recent decline and negative earnings trajectory, this transaction warrants examination of whether historical patterns hold or if the fundamental deterioration signals a break from prior cycles.