5 Reasons Why Chargepoint (CHPT) Stock Could Make You a Millionaire

Chargepoint (SBE) is planning to merge via a reverse SPAC deal with Switchback Energy in mid-February and it’s currently one of my top 3 holdings in my long term growth stock portfolio.

Not only is Chargepoint a wonderful EV play, but it’s one of the best electric vehicle charging station stocks to buy.

I’m writing this article to share with you 5 reasons why I’m buying as much Chargepoint stock as possible because I believe the company can reach a long term price target of $3,000.

I’ll also answer some of the most common questions I receive about Chargepoint in general. Let’s get to it.

1. Chargepoint is the Largest Charging Station in America with 73% Marketshare

EVs only represent a small 4% of global vehicle sales and you probably don’t see many electric cars on the road currently.

Well, that’s about to change in a hurry and America, along with China & India, will be the largest and most lucrative EV markets in the world.

Chargepoint owns 73% of America’s marketshare and you can find a ton of chargepoint locations right now if you search for something like “charging station near me” on Google Maps.

Chargepoint will make more money as more people convert their ICE vehicles to EVs.

For a more in-depth analysis of Chargepoint and its business model, watch this video below.

2. Chargepoint is Already Generating $100+ million in Annual Revenue unlike Most EV SPACs.

SPACs are super popular now in the EV space but the majority of companies planning a merger don’t generate any revenue. Fisker, Hyllion, Lordstown Motors, and many more simply show fancy presentations and lofty revenue projections without any revenue proof.

Chargepoint is one of the few SPACs that already make money and wants to go public IPO.

3. Chargepoint is Valued at Just $15 billion Once the Merger Is Completed.

As of January 2021, SBE stock trades at around a $1.5 billion market cap. Once the merger is complete, Chargepoint will have 305 million shares outstanding with a market cap of $15 billion.

For instance, Tesla has a massive $600+ billion market cap but just a fraction of charging stations compared to Chargepoint.

4. Chargepoint’s Home Flex Charger is the #1 best seller on Amazon

Amazon is a goldmine for product research and Chargepoint dominates the #1 best seller with over 800+ 4.5 star reviews. Home charging is a big moneymaker for Chargepoint and that revenue stream will grow over time.

5. Chargepoint CEO Pasquale Romano is a smart Harvard educated entrepreneur

Leadership is very important in high growth companies. Chargepoint is led by CEO Pascal Romano. He graduated from Harvard University and plans to make EV charging easy and affordable for the masses. He also takes time to conduct interviews and educate people about the benefits of EVs for the environment and your wallet.

Always Invest in The Future Because Innovation Makes You Rich

Innovated companies can make you rich. Apple, Facebook, and Amazon are a few examples of companies that disrupted their markets and used technology to boost shareholder gains. Customers love their products and the stock prices took off.

Chargepoint is a leader in a new innovated space with strong management, dominant market share, and top rated products.

Don’t overthink it. Chargepoint could be the next millionaire maker stock in the EV space behind Tesla in a few years.

If Chargepoint reaches my lofty $3,000 price target this decade then you only need to own 333 shares to become a millionaire.

Some investors may consider going all-in on Chargepoint stock because the upside is massive!

My goal is to hold 1,000 shares of Chargepoint and watch this new innovative company grow over time.

FAQs about Chargepoint Stock

When is the Chargepoint-SBE merger date?

Recent SEC filings show January 15th, 2021 but no exact date has been confirmed.

What will happen to your SBE shares?

As with all Spacs, your shares will be converted automatically from SBE to the new ticker symbol. Total shares outstanding will increase to 305 million and the price will remain the same.

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