SBE - Switchback Energy/ChargePoint SPAC Already Pricing In 2026 Blue-Sky Scenario

• Switchback Energy's Proposed business combination with ChargePoint has been a huge success for early investors, with the stock up over 340% before the transaction has even been completed.
• Unfortunately, the current $14 Billion Pro Forma valuation of the combined company is already pricing in the business' blue sky estimated value in 2026.
• Uninformed investors may be using Switchback's current $1.75B market cap as a guide, rather than accounting for all the additional shares added in the business combination.
• The stock is selling at 100x 2020 sales, and 6.5x projected 2026 sales!
• While the stock might go up more in the short term, I fully expect to see the shares trade 50-75% lower within two years as this EV bubble deflates.

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