A Pure-Play Electric Vehicle Charging Stock

About three months ago, we published an article which talked about “How SPACs Reward Everyone Except Retail Investors.” Whenever a special purpose acquisition company (SPAC) announces their intention to merge with a startup, shares usually soar on the news alone. And that’s not the only problem. We warned you about all the electric vehicle SPACs offering little more than non-binding letters of intent and grandiose plans. The recent announcement that Nikola Motors is being investigated by the DOJ hardly comes as a surprise.

In that same article, we talked about how one might buy shares in certain SPACs and liquidate them once the hype started. We actually ate our own dogfood on the trade we suggested – Social Capital Hedosophia Holdings Corp. III (IPOC) and Social Capital Hedosophia Holdings Corp. II (IPOB) long – and last week, we reaped the benefits. When the announcement was made that Opendoor would merge with IPOB, shares soared +70% netting us upwards of +50% on our position in about 76 days. As much as we advise our readers against speculating, we couldn’t help but profit a bit from the stupidity of the