MARKET

SBE

SBE

Switchback Energy Acquisition Corp
NYSE

Real-time Quotes | Nasdaq Last Sale

34.08
+7.92
+30.28%
After Hours: 38.94 +4.86 +14.26% 19:59 11/23 EST
OPEN
29.83
PREV CLOSE
26.16
HIGH
35.88
LOW
29.53
VOLUME
21.66M
TURNOVER
--
52 WEEK HIGH
35.88
52 WEEK LOW
9.38
MARKET CAP
1.07B
P/E (TTM)
1147.47
1D
5D
1M
3M
1Y
5Y
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Profile
CIIC leads financial gainers, AHT and NTP among losers
Gainers: CIIG Merger (CIIC) +32%. Marathon Patent Group (MARA) +32%. Front Yard Residential (RESI) +22%. Switchback Energy Acquisition (SBE) +22%.Losers: Ashford Hospitality Trust (AHT) -15%. IRSA Propiedades Comerciales (IRCP) -13%.
Seekingalpha · 12h ago
Blink Charging pares huge gain, Switchback Energy pops after Citron tweet
The huge rally in Blink Charging BLNK isn't going unnoticed by Citron Research. Shares of Blink Charging (BLNK) are still up 25.05%, but have dropped from their elevated level earlier in the
Seekingalpha · 14h ago
Cramer on the latest SPACs: CIIG Merger Corp, Hennessy Capital, Switchback Energy
CNBC's Jim Cramer and David Faber discuss the latest news in the SPAC market including CIIG Merger Corp, Hennessy Capital, Switchback Energy and others.
CNBC.com · 15h ago
Can the SPAC-tacular returns in the EV space ride on?
The pace of EV-SPAC deals in 2020 has been dizzying without showing any real signs of letting up despite some market turbulence on the way. A recap of some the
Seekingalpha · 2d ago
Switchback Stock Is a Definite Buy Now
I believe there is a very strong case for buying Switchback Energy Acquisition (NYSE:SBE) in the immediate term. SBE stock appears to be worth purchasing  due to a few characteristics it possesses.  Source: Alexandru Nika / Shutterstock.com InvestorPlace - Stock Market News, Stock Advice & Trading Tips The company with which it’s merging, ChargePoint, has sound operational principles and goals. Switchback Energy will undergo a reverse merger with ChargePoint in order to provide the latter company with funding for building EV-charging infrastructure. Fundamentally, ChargePoint’s business should be strong  as the U.S. is clearly adopting EVs quickly. The continued growth of EVs will result in strong demand for the company’s chargers.  Given ChargePoint’s strong outlook and the  data regarding the performance of SPACs before they merge, it seems likely that SBE stock has a very good chance to rise in the coming weeks.  EVs and SPACS Are Both Hot Fundamentally, I believe investors will pour a great deal of money into SBE stock and ChargePoint. Simply put, every company in the  EV sector is getting a great deal of attention from the market. So when investors find out that they can get in on an EV infrastructure play by investing in a SPAC, many will likely jump at the opportunity.  Leading the way for other EV names, Tesla (NASDAQ:TSLA) is way up this year,. And it’s clear that EV adoption is strong. As a result, investors will clearly be very interested in EV-infrastructure firms.  7 Cyclical Stocks Still Hoping for Another Stimulus Round And SPACs have been just about as hot as EVs. In Q3 of 2020, a record 30 SPACs raised $30.6 billion. However, the track record of SPACs isn’t quite as great as the enthusiasm for them.  SPACS’ Performance Bodes Well for Switchback in the Near-Term The 93 SPACs that have merged since 2015 have delivered an average return of -9.6%.  IPOs on the other hand, have delivered a mean return of 47% in the same period.  However, there is a silver lining for Switchback Energy.  Specifically, in the past two years new SPACs have outperformed those that were launched from 2015-2017. And SPACs have performed better before merging than after they combined with a company.  Consequently, the outlook of SBE stock prior to Dec. 15, when it’s supposed to merge with ChargePoint, is strong. So Switchback’s stock is likely to be profitable in the short-term.  Yet in light of the longer-term data, the shares’ ability to make money for investors after Dec. 15 becomes somewhat murkier. The Earnings Outlook Could Weigh on the Shares Investors will want to know how ChargePoint’s financial data looks. Based on the projections provided by the company, we can reach a few obvious conclusions. One is that the firm expects its sales to grow rapidly over the next five years In fact, it projects a compound annual growth rate of 60% from 2021 to 2026.  But the company doesn’t expect its EBITDA to become positive until 2024. It is possible that investors will focus on this negative point more intently after the merger. SPAC Funding Should Keep ChargePoint Healthy ChargePoint assumes that it will receive $450 million of net proceeds from the merger. The company believes that it will generate a cumulative EBITDA of -$357 million through 2023. It theorizes, therefore, that its overall cash flow will likely be positive, even though its EBITDA won’t turn positive until 2024.  ChargePoint is the EV-charger leader with 73% of networked Level-2 chargers. The company’s growth opportunity is clear, given that EVs look to be here to stay. The SPAC funding should enable ChargePoint to stay fiscally healthy and maintain its leadership position over the next five years The Bottom Line on SBE Stock While many SPAC mergers have proven to be value-destroying,, SBE stock looks different. For ChargePoint is dominant in its niche and is leveraging SPAC funding to fortify that position. Many other firms with less -than-stellar positioning have utilized the funds they raise from SPACs to fund weak business ideas. ChargePoint is clearly not in that camp. I think SBE stock will almost certainly rise between now and its merger. I also believe that the shares will remain strong after the merger due to ChargePoint’s powerful business model and the funds. it will obtain from the transaction Switchback is one of the few SPACs I’ve recently covered that really looks very appealing to me. I think investors who want EV-infrastructure stocks in their portfolios should buy the shares. On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article.  More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post Switchback Stock Is a Definite Buy Now appeared first on InvestorPlace.
InvestorPlace · 3d ago
Switchback Energy Isn’t Cheap, But It’s Still Intriguing
Switchback Energy (NYSE:SBE) is in the right place at the right time. Traders love special purpose acquisition companies (SPACs) at the moment, and they absolutely adore electric vehicle (EV) firms. Thus Switchback, which sits at the intersection of these two trends, is an ideal stock for the current moment. You saw that on Thursday in particular, as Switchback’s stock soared 25% in a single session. Source: Michael Vi / Shutterstock.com Does Switchback live up to the hype? By and large, yes it does. It certainly has more going for it than many of its rivals in the EV space. And it starts at the business model itself. Switchback will soon be merging with ChargePoint, which is the undisputed leader in charging stations for EVs. ChargePoint already has an extensive network set up and is generating some serious revenues. How, in turn does that make Switchback look as an investment?InvestorPlace - Stock Market News, Stock Advice & Trading Tips Gas Stations of the Future? Think Bigger. I’ve seen folks describe ChargePoint as a way to invest in the gas stations of the future. And that’s not a bad analogy. However, I’d point out though that gas stations aren’t that great of a business historically. Traditionally, gas stations generate almost no profit on the gas sales, and instead rely on selling beverages, cigarettes, and snack foods to drivers as they fuel up. There’s nothing wrong with that, to be clear. However, ChargePoint actually has a much more attractive business model than the traditional fueling station. ChargePoint doesn’t have to deal with the often-tricky matter of managing crude oil and gas prices. 7 Cyclical Stocks Still Hoping for Another Stimulus Round In fact, ChargePoint makes it clear in its presentation: The company doesn’t sell energy or get paid off of the rate of driver utilization whatsoever. The revenue comes from selling its charging hardware and the related software that makes it work. Not surprisingly, it’s the software part of the business that is particularly compelling. For example, ChargePoint can set up units in the parking lot of a Fortune 500 company and then get paid a recurring monthly fee for running the software that makes the magic happen. It’s the employer that ends up worrying about the cost of electricity and any related issues on that end. Already Demonstrated Success A problem with many of the electric vehicle-related SPACs is that there is no proof of concept yet. You have companies with little more than some cool product sketches selling for billions of dollars. It’s hard to invest confidently when there is so little tangible evidence with which to evaluate the business. ChargePoint, thankfully, is better than its peers in this regard. ChargePoint has already built out a large network of functioning and revenue-generating charging locations around the country. As of March 2019, ChargePoint already had 15,694 Level 2 charging locations. That was way ahead of nearest competitors Tesla (NASDAQ:TSLA) at 3,567 and Blink Charging (NASDAQ:BLNK) at 1,426 locations. Obviously, given how fast the industry is expanding, those numbers have grown since then. Still, this data gives you a look at just how substantial ChargePoint’s lead already is. These charging locations are leading to real revenues as well. ChargePoint pulled in $147 million in revenues in 2019, and anticipates a similar figure for 2020. And once Covid-19 has passed, the company anticipates revenue growth resuming at a 60% or so annual rate going forward. SBE Stock Verdict ChargePoint will be a fascinating company to watch in future years. The company has already generated a considerable amount of business. And based on current growth rates, it seems like the sky is the limit. That said, there’s a broader fundamental debate around the company. Is ChargePoint going to have huge market share, a large competitive moat, and the ability to run sustainable high profit margins going forward? Or will it end up being a commodity product, like gasoline at gas stations, where there is a ton of revenue but only a marginal profit in each transaction? To be honest, I think it’s too early to tell. That uncertainty, in turn, makes ChargePoint a risky investment. There’s no question that the company can continue to generate huge revenue growth in coming years. However, the valuation case at some point has to assume that profits will follow. Right now, bulls are pinning their hopes to projections ranging out to the late 2020s. That’s practically to infinity in an industry evolving as quickly as electric vehicles are. ChargePoint will have 305 million pro forma shares outstanding once the merger is complete. At a $25 share price, that implies a more than $7.5 billion valuation for a company with $150 million in annual revenues at the moment. That’s 50x sales, which is not cheap, even by the market’s current optimistic standards. ChargePoint does have an excellent story, there’s no denying that. However, just be mindful of the valuation when considering any trades in the stock. On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post Switchback Energy Isn’t Cheap, But It’s Still Intriguing appeared first on InvestorPlace.
InvestorPlace · 3d ago
CIIC leads financial gainers, DNK and HGSH among losers
Gainers: CIIG Merger (CIIC) +23%. Switchback Energy Acquisition (SBE) +22%. UP Fintech Holding (TIGR) +20%. PennantPark Investment (PNNT) +16%. Hudson Capital (HUSN) +15%.Losers: Phoenix Tree Holdings (DNK) -20%. Legacy Acquisition
Seekingalpha · 4d ago
ChargePoint stock moves closer to NYSE listing as reverse merger deadline approaches
Shares of SPAC Switchback Energy Acquisition (SBE) are up nearly 15% in the past week as the reverse merger with EV charging company ChargePoint comes closer to completion.When the $2.4B deal was
Seekingalpha · 5d ago
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Institutional Holdings
Institutions: 78
Institutional Holdings: 11.66M
% Owned: 37.13%
Shares Outstanding: 31.41M
TypeInstitutionsShares
Increased
5
604.67K
New
55
-4.32M
Decreased
16
5.80M
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About SBE
Switchback Energy Acquisition Corporation is a blank check company. The Company is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with or more businesses. The Company intends to focus its search for a target business in energy industry in North America. The Company is not engaged in any business operation and it has not generated any revenue.
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