Opinions
Jim Cramer - Mad Money
Climate Change Crisis Real Impact I Acquisition Corp.
CLII-Q
BUY
Jan 25, 2021
N/A
Stock price when the opinion was issued
Financial Services
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Last Friday we saw this EV SPAC . This would be the third EV-charging company to list on the stock exchange. CLII is joining forces with EVgo, a private company that makes EV charging stations. Last Friday on this news, CLII jumped from $13 to $22. EVgo will become the third EV-charging company to list on the stock exchange. As more EVs are made, more EV charging stations will be needed, and he expects the Democrats to offer generous subsidies or tax credits. EVGo's CEO has experience in energy generation, software and venture capital; and worked high up in the Energy Dept. under Pres. Obama--useful connections to have with Biden as president. EVgo forecasts 49% sales growth in 2021, but higher in 2022-23. This is smaller and more speculative than fellow EV-charging stocks SBE and TPGY. Trades at a very high 28x sales.