It sells the networked charging hardware, software and support services that organizations and businesses need to turn parking lots into EV charging stations. Auto investors eyeing Switchback's shares should note that ChargePoint is well beyond the "start-up" stage. When the rumor mill begins to operate about a potential merger, the stock usually moves up. energy transactions since 1988. ChargePoint reached 100,000 charge points in September 2019 and will continue to roll out new charging stations as we all recover from the global pandemic shutdowns. Right out of the gate, the EV charging infrastructure provider is already crushing the competition. executive and operational expertise but presents potential for an attractive risk-adjusted Like other recent SPAC deals, this deal includes a so-called PIPE, for "private investment in public equity," in which investors including Ballie Gifford and funds managed by Neuberger Berman will invest a total of $225 million in the merged company's stock at an agreed-on price. When the rumor mill begins to operate about a potential merger, the stock usually moves up. significant resources, capital and optimization potential.
As I write this article, there are zero articles talking about Switchback Energy on Seeking Alpha but that will change once the ChargePoint merger is complete. On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. What does that mean for Switchback’s shares? When the rumor mill begins to operate about a potential merger, the stock usually moves up. Will that be the case here with Switchback Energy (NYSE:SBE)? Sure, there’s no guarantee things will play out as predicted.
I have no business relationship with any company whose stock is mentioned in this article. Switchback Energy is a special-purpose acquisition company (SPAC) which raised $300 million in an initial public offering in July 2019. intend to identify and acquire a business that could benefit from a hands-on On Sept. 15, SBE stock closed at $10.45. Should You Buy Switchback Energy Stock Before the Merger or Wait? See here for a complete list of exchanges and delays. Switchback and our investors are excited to partner with the talented ChargePoint team to advance their vision.”. Filed by Switchback Energy Acquisition Corporation.
Date: September 24, 2020 By 2030, Bloomberg estimates that there will be 116 million electric vehicles on the roads around the world. Assuming all goes according to plan, the merger deal is expected to close by the end of 2020. But, that doesn’t guarantee Switchback shares will go parabolic after the ChargePoint deal closes. company expertise our management team possesses, or that relies on the target’s
But, while the bull case for this stock seems like a “no-brainer,” the risk of this year’s “EV bubble” cooling may mean it’s wise to practice near-term caution before diving into this potential long-term winner. That’s not to say this isn’t a solid opportunity today, but treading carefully may be the best move. All rights reserved. Valued at $2.4 billion, ChargePoint will have $493 million in dry powder post-merger to execute its growth strategy. platform, will enable us to pursue a broad range of opportunities.
Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Switchback Energy Acquisition's Stock Is Sharply Higher Today @themotleyfool #stocks $SBE, take ChargePoint public at a valuation of $2.4 billion, EV Charging Network ChargePoint to Go Public in $2.4 Billion Deal, Copyright, Trademark and Patent Information. Special purpose acquisition companies (SPACs), especially those that have merged with privately held electric vehicle (EV) companies, have been some of the top-performing stocks in 2020. See you at the top! with private companies in preparing for and executing an initial public Disclosure: I am/we are long SBE. It's a very popular strategy to raise capital, then seek out an awesome business model to merge with. quotes delayed at least 15 minutes, all others at least 20 minutes. The company offers several different products & services to help businesses and consumers power their vehicles. All rights reserved. has considerable experience investing in the energy industry. record of identifying high-quality assets, businesses and management teams with Deep Value, Contrarian, Momentum, Long/Short Equity, Follow Investor Trip and get email alerts. 2020 InvestorPlace Media, LLC. Switchback quickly rose 11% after the news and was halted.
By 2040, more than half of all vehicles sold will be electric. Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. quotes delayed at least 15 minutes, all others at least 20 minutes.
If a deal is announced, the share price usually skyrockets. industry. management believes that its ability to identify and implement value creation platform to identify, acquire and operate a business in the energy industry The Man Who Recommended 23 1,000% Winners Is Revealing His #1 Stock for 2020. Last but not least, ChargePoint sells cloud plans to offer a cost-effective solution for commercial charging station owners. While most vehicle owners don't need ChargePoint products right now, things are guaranteed to change in the future. Copyright © 2020 InvestorPlace Media, LLC. All rights reserved.
Since NGP’s The U.S. federal tax credit will also reduce the cost of Home Flex by 30%, giving consumers an additional incentive to embrace renewable energy. purchase, reorganization or similar business combination with one or more Yet, with the risk the “EV bubble” fueling the sector higher starts to cool, waiting for pullbacks may be the best way to buy Switchback. stockholders. Switchback
Once the deal wraps up, it’s possible the stock (soon to re-named CharePoint Holding) takes off, much like the other SPAC names have done post-merger. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. ChargePoint can equip any station with its charging capabilities as well as offer a value-packed home charging solution for individual customers. risk-adjusted returns in the marketplace and that its contacts and transaction The merger between SwitchBack Energy Acquisition and ChargePoint makes SBE stock a good way to invest in electric vehicle infrastructure. As more electric vehicles hit the road, the demand for ChargePoint services will continue to rise. believe that our management team is well positioned to identify attractive
But, the stock may not see the same parabolic moves with this stock like we have with many SPAC/EV names in 2020.
SBE stock, which jumped dramatically in September as news of the merger became public, can still be had for around $15. I've been looking into Switchback Energy … Electric commercial truck maker Nikola Corp went public earlier this year through a SPAC merger while electric carmaker Fisker has agreed to a reverse merger with Spartan Energy Acquisition Corp. By 2040, more than half of all vehicles sold will be electric, so this is the beginning of a massive shift in how we transport ourselves around the globe. It depends on how things play out in the near-term.
Most blank-check companies like Switchback Energy initially trade between $8 and $10.
Copyright © All quotes delayed a minimum of 15 minutes. Rosinski. of dislocation in the markets in which they operate, over-levered capital Returns as of 10/18/2020. Reporting by Joshua Franklin in Boston and Ben Klayman in Detroit; Additional reporting by Sinead Carew in New York and Noel Randewich in San Francisco; Editing by Timothy Gardner and Matthew Lewis. John Rosevear is the senior auto specialist for Fool.com. Stock Advisor launched in February of 2002. In addition, our team has significant hands-on experience working ChargePoint hopes to increase the number of its charging points to 2.5 million by 2025, which will allow it to keep up with the growing interest in electric vehicles over the next few years. NGP On the other hand, renewable energy stocks soared and NextEra Energy (NEE) became the largest energy company in the world based on market cap. Energy Acquisition Corporation is a blank check company formed for the purpose But that has more to do with issues directly related to the company, rather than decreased interest in EV stocks. Article printed from InvestorPlace Media, https://investorplace.com/2020/10/dive-into-switchback-energy-sbe-stock-any-pullback-cseo/. Already, ChargePoint says a driver plugs into ChargePoint’s network every two seconds, and the company has logged more than 82 million charging sessions.
Switchback Energy Acquisition Corporation (NYSE:SBE) scored a price-to-earnings ratio above its average ratio, recording 479.07 x from its present earnings ratio. In September 2018, ChargePoint made a pledge to operate 2.5 million charging points by 2025.
After trading resumed it was up 27.5% at $13.32. The bull case for this EV play is a lot clearer than with other EV companies that have recently completed SPAC mergers. (Reuters) - ChargePoint Inc, one of the world’s oldest and largest electric vehicle charging networks, is nearing a deal to go public through a reverse merger with Switchback Energy Acquisition Corp, people familiar with the matter said on Wednesday. inappropriate business strategies. Our While EV megatrends will remain in motion, today’s frothy multiples could contract. return profile under our stewardship.
Sure, in recent days, shares have pulled back, and now change hands just under $14 per share. While it isn't yet profitable, it had $147 million in revenue in 2019, and it expects to be fully profitable by the end of 2023. that may provide opportunities for attractive risk-adjusted returns for our That’s what makes the deal appealing for Switchback, the special purpose acquisition company merging with ChargePoint. It’s impossible to estimate when it will happen, but it’s only a matter of time before this bubble bursts. The company says it also offers another 133,000 public places in North America and Europe through network roaming integrations.
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