Volta: Another EV Charging Network With Too Many Questions
Volta goes public via closing the business combination with the Tortoise Acquisition Corp. II SPAC. The company operates an EV charging station network in a competitive space leading to 24 million SPAC shares being redeemed. The stock appears to have an EV of only $1.3 billion, but too many questions exist around charging station network moats to buy Volta. I do much more than just articles at Out Fox The Street: Members get access to model portfolios, regular updates, a chat room, and more. Learn More » The SPAC craze has left several sectors crowded with newly public companies including the EV charging station space. Tortoise Acquisition Corp. II ( SNPR ) just got shareholders to approve their business combination with Volta (NYSE: VLTA ) to enter the space. My investment thesis remains negative on the space due to material inefficiencies in the business models. Read the full article on Seeking Alpha. Disclosure: No position mentioned...