Why Switchback Energy Stock Is Charging Higher Today
Shares of Switchback Energy Acquisition (NYSE: SBE) were trading sharply higher again on Tuesday afternoon. The special-purpose acquisition company, which plans to merge with electric-vehicle charging network ChargePoint, appeared to be benefiting from strong investor interest after a prominent short-seller attacked a ChargePoint rival.
As of 2 p.m. EST, Switchback's shares were up about 9.2% from Monday's closing price, and up about 42% since the end of last week.
In a series of tweets, Citron Research, a widely followed short-selling firm, hit ChargePoint rival Blink Charging (NASDAQ: BLNK) with a scathing critique during the trading day on Monday.
Source Fool.com
