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Why Switchback Energy Acquisition Popped 19.2% in December

Travis Hoium, The Motley Fool
·1-min read
Why Switchback Energy Acquisition Popped 19.2% in December

Shares of Switchback Energy Acquisition (NYSE: SBE) jumped 19.2% in December, according to data provided by S&P Global Market Intelligence, as investors continued to push stocks related to electric vehicles higher. As of now, Switchback Energy is still a special purpose acquisition company, or SPAC, with little more than cash on the balance sheet. While there wasn't any significant news out of Switchback or ChargePoint last month, the stock benefited from a market that's buying anything EV-related right now.

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