I have no idea whether or not Fisker 2.0 will work out, but I’d probably go in with some healthy skepticism. [5] Stations are rated to provide a minimum of 50 kilowatts and up to 350 kilowatts, although the actual output is dependent on multiple factors including the vehicle's capabilities. (From the July 17, 2020 Friday File): The highest valuation SuRo has ever carried was back in March of 2012 (it was GSV Capital back then, ticker GSVC, but it’s the same company — just a name and ticker change), and that was entirely because they held a meaningful chunk of Facebook (FB) shares, which drove interest in the months leading up to the Facebook IPO (which ended up being in May of that year). And absent any Coursera hype (that’s SuRo’s largest holding, though it’s roughly the same size as Palantir), we should probably expect the stock to be back under book value by a few days after the Palantir IPO, again matching that pattern from the Facebook and Twitter IPOs… so if we’re holding for that “peak hype” moment, watching that IPO date will be important. Palantir is only allowing about 10% of its shares to trade, the rest (mostly held by venture capital companies and employees) is subject to a six-month lockup, so the price might act somewhat like a traditional “hot” IPO, with that initial pop due to a limited amount of supply, and then a drop in six months when insider selling is allowed to kick in. They can pay for electricity through the phone apps or with a credit card at the chargers. Many Electrify America locations, especially those in or near cities, also have J1772 charging infrastructure, providing AC electricity at about 7.7 kilowatts. Thanks for the timely heads up, Travis! Ian Wyatt pitches "Freedom Drillers" after the Iran news.... Can you really buy into a South Texas oil producer before it goes public? Electrify America will establish ZEV Investment Plans for two additional 30-month cycles to guide investments from 2022 through 2026. Thanks!! Think they might be more appealing at some future date if the excitement cools? The Old Man, I most recently shared my thoughts on the election here: The SPAC that they’re planning to merge into is managed by an arm of Apollo Global Management, a big private equity company, and is called Spartan Energy Acquisition Corp (SPAQ), and the deal is expected to be finalized before the end of the year (November is a good guess, though I haven’t seen any final dates yet). Please do not use personal information (like your email address) in the text of your comments. Electric vehicle charging station company in U.S. United States Environmental Protection Agency, "Reston's Electrify America surpasses 500 EV charging stations nationwide", "VW's Electrify America to install EV chargers at Walmart stores", "VW launches U.S. electric vehicle infrastructure unit", "ELECTRIC VEHICLES: How Volkswagen turned from diesel pariah into electric gorilla", "Driving the 2021 Volkswagen ID 4, VW's first all-electric SUV", "Seamless car charging comes to Electrify America with Plug&Charge - Model Year 2021 EVs from Ford, Lucid, and Porsche will support the new standard", "Electrify America installing 150/350 kW fast chargers at more than 100 Walmart locations", Anhui Jianghuai Automobile Group Holdings, https://en.wikipedia.org/w/index.php?title=Electrify_America&oldid=1000672541, Electric vehicle infrastructure developers, Short description is different from Wikidata, Articles containing potentially dated statements from November 2020, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License, This page was last edited on 16 January 2021, at 04:30. There have been some lesser periods of enthusiasm for GSV Capital and Sutter Rock (now SuRo) Capital, but those were the two biggies. The company has multi-location agreements with Walmart, Target and Simon Property Group, among other companies. I will not buy or sell any covered stock for at least three days after publication, per Stock Gumshoe’s trading rules. Haven’t looked at Palantir since I sold my SSSS speculation, sorry. Fisker’s “Investors” page is essentially the press release about the SPAC merger, and it sounds like the money from the SPAC and from the additional private financing they’re going at the same time, a total of about a billion dollars, will go to funding initial development of the Ocean… which is being outsourced to Magna International (MGA, MG.TO), the big Canadian auto parts company. For more information, read our disclaimer and privacy policy. Electrify America operates an electric vehicle DC fast charging network in the United States, with more than 500 charging locations and over 2,200 individual charging units as of November 2020[update]. SuRo reported a couple of weeks ago that they expect their net asset value (NAV) per share to have rebounded nicely from March to June, it was reported at $10.22 on March 31, and they now estimate that it will be between $11.70 and $12 as of June 30 (they report in early August, so we’ll get the full detail then). What happens if Trump loses and does not amicably pass the baton? You can grab Pre-IPO shares BEFORE this next electric vehicle stock starts trading in November.”. Whether or not that’s worth $4 billion, you’ll have to decide… auto startups are really tough, and, as we’ve seen with Tesla, they don’t generally make money for a very long time — so if the CEO isn’t able to light a fire under investors and keep the excitement level (and trust) eleveated, there’s every chance it could be the next Delorean or Tucker. Palantir has reportedly had more than a billion dollars worth of shares trade hands privately in recent years, with employees looking to cash in some of their compensation or early backers like Tiger Global taking their profits as the firm remained stubbornly private (and unprofitable), but the move to offering more automated and higher-margin services in the past couple years has apparently created a more predictable and profitable business. What’s the private equity firm most invested in this one? And that’s a wild card as well, because Palantir’s value as a private company has dropped some over the past few years but has actually been pretty stable (at least in SuRo’s estimation) over the past year. So that’s a pretty clear indication that I should probably sell the balance of my position before the Palantir IPO, which could be anytime but will probably be in the next couple months if the market remains amenable. However, I am the investment guru of my family and friends. His latest email subject line is that “The Next Tesla is Going Public — Get Shares Today,” but when you click through to the signup page for his webinar presentation about “The Pre-IPO Profit Secret”, the initial headline is about buying Palantir before the IPO. Electrify America operates an electric vehicle DC fast charging network in the United States, with more than 500 charging locations and over 2,200 individual charging units as of November 2020. [1] It is a subsidiary of Volkswagen Group of America, established in late 2016 by the automaker as part of its efforts to offset emissions in the wake of the Volkswagen emissions scandal.[2][3][4]. I’ve written about this a bunch of times for the Irregulars, since I also speculated on SSSS options once it started to look like Palantir would really move forward with its IPO, but there is some limit to the positive impact this IPO is likely to have on SSSS shares. In August, SuRo did report that their NAV had risen to $11.84, with that Palantir position still valued by them at $30.5 million. This site uses Akismet to reduce spam. The leader in electric vehicle (EV) charging. Your decision might easily differ, and indeed my decision might be different if I made it on a different day, when I had eaten a better lunch, but I thought I’d at least share my thinking with you. I have been getting bombarded with Wyatt’s emails this morning (say 10 or so). He produced a couple thousand Fisker Karmas, a luxury plug-in hybrid, but they only produced for a couple years before first their battery supplier, then Fisker Automotive, itself went bankrupt (or nearly so, I don’t know if Fisker Automotive technically liquidated — but they sold everything other than the Fisker name to a Chinese company). Tags Electrify America … They were reborn in 2016 as Fisker, Inc., with a new lineup of ambitious plans for electric vehicles and solid state batteries… including their first planned product, the Fisker Ocean. You have been a godsend! Fisker said the business agreement creates a company valued at $2.9 billion and the IPO share price will be $10. I have used my Corona time at home to become more educated about investing, so my investment knowledge is rudimentary and spotty. Henrik Fisker is a bit of a showman, though not quite in the Elon Musk mold… and his overpromising might have even made Elon blush from 2010-2013 or so, which would give me ample reason to be cautious about this one, but I haven’t looked at it very closely in recent years. The Company offers transformative, customer-centric infrastructure, and energy management solutions. Would it be worth buying Magna? Here’s the commentary I shares in a Friday File a couple months ago on this point, just illustrating how it worked with SSSS (at the time, GSV Capital) performed around the time that two of its previous large holdings went public (Facebook and Twitter). We don’t even know what newsletter he’ll be pitching, but in the past he has used these “pre-IPO” ideas to sell his Million-Dollar Portfolio. Its first station opened in May, 2018, in Chicopee, Massachusetts. Most of the new stations are strategically located at Walmart stores off major highways, with dozens more chargers planned for major metro areas. Congrats on the option gains! Together with Tesla and Electrify America, these three companies currently account for about 80% of all networked Level 2 and DCFC chargers in the US and Canada and 90% of DCFCs, the fastest growing … This is usually because the state allows only electric utilities to charge for the amount of electricity a customer uses. So yes, it’s sort of like buying Fisker “pre-IPO” if you buy Spartan Energy Acquisition — but it’s not a secret, SPACs are well-followed now and everyone knows Fisker is coming back to the public markets through that merger. As always, CAVEAT EMPTOR! Electrify America, the largest open ultra-fast charging network in the U.S., and … That will include Electrify America's fast-growing network, which will give customers access to DC Fast chargers. That does not reflect any adjustment to the value at which they carry their Palantir shares, it mostly just reflects the bounce-back from the coronavirus valuatios — the NAV was $11.38 on December 31. The Electrify America charger network roll-out is being done in four 30-month cycles. ... All Oceans will charge seamlessly at Electrify America charging stations. The first one, the “next Tesla,” is teased thus: “And that recently sent Tesla Motors (NASDAQ: TSLA) shares to a record high of $498. In this case, I expect Wyatt is teasing SuRo Capital (SSSS), which is a publicly traded venture capital firm (used to be called GSV Capital, then Sutter Rock Capital). Sad to say. Thank you so much, Travis! To achieve the American dream through investing seems largely unattainable for everyday folks, if they do not have the extra time, money and brain power to get behind it. Travis…are stops enough? I understand that he may be promoting to get in on AirBnB and the likes pre IPO. I think that’s the somewhat reasonable bull case, and if we assume that Palantir is Twitter-esque in its impact on investor enthusiasm for SuRo, we could easily see SuRo trade for 1.25X book going into the IPO. Well, Fisker has agreed to merge with a special purpose acquisition company (a SPAC, also often called a “blank check” company), and that will result in Fisker being a public company. PLTR looks like it rose on the day, but that’s just because the entry “benchmark” price was $7.50, not the ~$10 some folks expected — the valuation ended up being around $20 billion in public trading, and insiders seemed pretty eager to begin selling some shares. (Incidentally, in case you’re wondering, the name change from Sutter Rock to SuRo was because of a lawsuit — apparently Sutter Hill Ventures, a VC company in Palo Alto, thought they were infringing because of the similar business focus, so they settled with a name change. They depend a lot more on general volume of automobile demand, so the recessionary worries are more of an issue for Magna than is Fisker… not particularly interested in owning either at this point, but I do at least like Magna a lot more than Fisker. The blue line is the price/book valuation, which got briefly up over 3 but was at mostly about 1.3X book until just the moment Facebook went public — at which time the folks who were buying shares because of Facebook could buy FB directly if they wanted. Reston, VA (September 9, 2019) – Electrify America, LLC and Porsche Cars North America, Inc. (PCNA) celebrated the first time the Electrify America DC fast charging network was used nearly to its full potential. They will likely start trading tomorrow, the word is that trading will begin at $10 a share and give them a $22 billion IPO, but it’s not really an IPO, it’s a direct listing. An IPO is an Initial Public Offering, and Palantir isn’t actually offering up new shares for sale — they’re just applying to list their shares directly without selling a huge chunk of them right off the bat. “One new company is being dubbed “the next Tesla.” And it’s getting ready to go public in a historic IPO. Scheduled for a global debut soon, the 2021 ID.4 electric SUV is … It also could benefit from the brand’s partnership with Electrify America, which might include some complimentary charging for customers. Palantir was rumored as pursuing a valuation of $26 billion last year with some additional fundraising, but it didn’t happen. This is what that looks like, this is the chart from June of 2011 to January of 2013, with the Facebook S-1 filing (on February 1) and the IPO date (May 18) marked. Where does that leave us with SSSS at about $13 and the December $10 call options I own at about $4.50? We're always looking for smart, interesting, and passionate people to join our team and our efforts to make a mark on the road to "Electrify America." By clicking any link on this page you are giving your consent for us to set cookies. Well, sometimes those patterns do repeat… a huge collapse for SuRo today as Palantir finally completed its Hi Travis, That’s roughly twice the valuation SuRo carries on its books for Palantir (SuRo apparently values its Palantir shares at ~$5), so it’s possible for the stock to pop higher still if Palantir goes bonkers tomorrow, but the ~$16 price I was speculating about in July still sounds like the most optimistic price a rational person could hope for… and while there’s possible upside from $13 here, it’s also becoming a high-wire act to some degree, given the tendency of SuRo to drop pretty sharply once the “pre-IPO” story has run its course and investors are able to buy the stock they actually want on their own. Electrify America currently has agreements with various manufactures for their electric vehicles to use its network of chargers or provide discounted charging rates or free charging, including Volkswagen, Audi, Harley Davidson and Lucid Motors. Once the deal goes through, as is expected (though never guaranteed), SPAQ will become FSR, and the warrants associated with this SPAQ, now at SPAQ.WS or SPAQW depending on your broker (or something similar) will become FSR.WS. Ian Wyatt teases that "Walmart Quietly Plans New IPO to Crush Amazon" -- what's he talking about? At $13 in book value, again just estimating a boost for Palantir, that could be a $16.25 share price for SuRo. We use cookies on this site to enhance your user experience. That was the most dramatic catalyst in SuRo’s history, but then for much of the next several years the shares were valued primarily based on the value of SuRo’s large private stake in Twitter, some of which they held for a while after the TWTR IPO. One aspect of the program was a pledge to establish a public electric vehicle charging network. Since we also live with the risk that the market might get ugly at any moment, causing Palantir to pull back and postpone their IPO for another six months and quite possibly sending those option prices down by 90%, I’ll take the rest of that profit now. I lost a bunch on SSSS on the PLTR IPO, wished I would’ve read this beforehand. And what’s the other deal, the one where Wyatt says you can buy into Palantir “pre-IPO?”. It means that I could sell now for gains of about 1,800%… or hold out for possible gains of about 2,800% if I’m right about that likely ~$16.50 ceiling on the shares and the options go to $6.50-7 each. They are estimating that they will produce about 50,000 cars there per year. If you want to give yourself room to become a true believer in Fisker, the interview Henrik Fisker did with Barron’s might get you excited — you can listen to that here. Certainly won’t be listening to tomorrow’s webinar!! (obviously I am asking how to buy shares from companies who do not let smaller private investors buy from them directly). Palantir is the “big data” company that controversially (to some) does a lot of work for the government — they’ve been rumored as the next hot IPO for four or five years now, but have finally filed to come public this fall, and that does have people a little excited. I’ll let Travis go further with more comments, should he choose to do so. The last data point we might reasonably consider is what will the book value of SSSS be if Palantir is meaningfully revalued at the IPO? With a design similar to the handsome Range Rover Evoque, the 2022 Fisker Ocean could prove a compelling entry among the burgeoning EV SUV segment.” ... An IPO is an Initial Public Offering… Having just looked at European news this morning, I also encountered Fisker Automotive. Tickers WMT. Valuations for the company over the past five years have fluctuated widely, from $20 billion in 2015 to less than half of that in some recent transactions, and fund manager Bailie Gifford, for example, disclosed that their stake in Palantir had lost about 3.5% a year from 2014-2020. Election Result Market Thoughts? Electrify America offers the most public fast charging stations in the U.S., plus home and commercial products. Magna International (MG.TO MGA) . Be a part of our team It's an exciting time to be working in the electric vehicle industry, and it's just the beginning. This site and Stock Gumshoe publications and authors do not offer individual financial, investment, medical or other advice. Let us know with a comment below. Wyatt pitched Spotify pretty much exactly the same way back in 2018. That seems to me to be a reasonable ceiling for Palantir hype’s impact on SuRo shares in a rational world, though I can’t promise the world will be rational. Is it worthwhile? SPACs in general have historically not had a great track record, but we also haven’t ever seen this kind of surge in SPAC deals, and investors are still giddy over IPOs in general, so maybe the excitement will stay hot for a while. Electrify America Announces Plans for Ultra-Fast Electric Vehicle Charging at Westfield Shopping Centers. The deal values Fisker at about $2.9 billion, but that’s at $10 a share — at the current price if about $14 a share, the market cap of the company after the merger would be about $4 billion, and from what I can tell it will essentially consist of the Fisker brand, their current car designs and plans, and a billion dollars in cash. ChargePoint was founded in 2007 by Richard Lowenthal. They’re also good examples of the two basic kinds of publicly-traded “pre-IPO” investments that most investors can easily make. July 02, 2019. The first 120 Walmart sites with Electrify America chargers are located across 34 U.S. states. Learn about our pricing. On September 4, the day of the global launch event, a Porsche Taycan, with its 800-volt architecture, charged at Electrify America… I’m sure he’ll drop more hints in the “webinar” tomorrow, but those sessions always feel like the timeshare sales presentations you get sucked into at vacation resorts — so we’ll just jump the line a bit and tell you what I’m pretty sure he’s pitching here: This is very likely to be Fisker that he’s talking about, a name that will be familiar to folks who follow the auto industry. On the other hand, we’re also in a truly nutty IPO environment right now, where SPAC conversions soar crazy high sometimes and “hot” tech IPOs shoot higher immediately, embraced by the latest generation of stuck-at-home day traders, with not much attention paid to valuations when it comes to newly public companies. Electrify America is a company that owns and manages an electric vehicle charging network. This isn’t unheard of, but it’s pretty unusual and generally has been done only with pretty big brand-name tech stocks — the ones that most famously followed this path were Slack Technologies (WORK) and Spotify (SPOT). https://www.stockgumshoe.com/2020/10/friday-file-insurance-disruption-flat-rhythm-and-a-falling-par/. Electrify America is a company that owns and manages an electric vehicle charging network. Fisker Automotive was founded in 2007 by Henrik Fisker, a well-known automotive designer associated who was behind a few well-known cars for Aston Martin and BMW. It is a subsidiary of Volkswagen Group of America… He built what became Sutter’s Fort in what is now Sacramento… and owned Sutter’s Mill, where gold was discovered in a moment that became the starting gun for the California gold rush). The company has not officially endorsed a plan to participate in an IPO. Disclosure: of the companies mentioned above, I own call options on Slack and Twitter. Presently, Electrify America is the only public charging network which offers chargers with power levels up to 350 kilowatts. Sutter Rock Capital (SSSS) , https://www.marketwatch.com/press-release/triterras-fintech-reports-5-billion-in-total-transaction-volume-on-its-kratos-platform-in-the-first-six-months-of-fiscal-2020-reaffirms-its-full-year-projections-2020-09-16-8183053, https://www.stockgumshoe.com/2020/10/friday-file-insurance-disruption-flat-rhythm-and-a-falling-par/. Electrify American stations are frequently located in parking lots and parking garages of big-box stores and shopping malls. PLTR skyrocketed in the past 3 days and SSSS shares has gone back to 10 bucks after market. [9], The chargers support 50kW, 150kW, or 350kW.[10][11]. The difference? Care to share if you have any updates? Travis, I think you’re spot on with SSSS. What's being teased in the webinar ads for his, Checking into Ian Wyatt's latest "urgent briefing" teaser pitch. Here’s the comment from Car and Driver about the Fisker Ocean, in case you’re curious: “The tide is turning for electric vehicles as more and more new models flood the market, and Fisker Automotive looks to capitalize on that sentiment with its aptly named Ocean SUV. Do you think the run will continue. So it has been relatively steady… but that does change the calculus a little bit, it means that instead of trading at about 1.3X book value right now at $13 and change, SuRo is actually trading at about 1.1X book. By Travis Johnson, Stock Gumshoe, September 28, 2020. If everything goes according to plan next week, Thomas Healy, 28, will become America’s youngest self-made billionaire when the company he founded, Austin-based heavy-duty electric truck … Wyatt’s latest pitch is for a “webinar” that will air tomorrow at noon, so we obviously haven’t heard the hard sales pitch yet, but we can make some educated guesses for you. Worthy a bet? In the absence of other good news, it doesn’t seem terribly likely that the shares will soar a lot higher, since SuRo is right now trading at a price/book valuation of 1.3… which rivals the peak they reached right before the TWTR IPO. Do not let smaller private investors buy from them directly ) plan to participate an! App [ 8 ] lets users pay through their phone and receive discounted rates an. … ChargePoint was founded in 2007 by Richard Lowenthal to Crush Amazon '' -- what being. 150Kw, or 350kW. [ 10 ] [ 11 ] quickly grew, eventually! To go public through a merger with the investment guru of my and! A customer uses, with dozens more chargers planned for major metro.! Require a special adapter that allows them to CHAdeMO 30-month cycles infrastructure, and management. That allows them to CHAdeMO drivers can find stations through Electrify America sets initial prices, adds location to! 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