CHPT - 3 Things You Need to Know if You Buy ChargePoint Holdings Today
2023-12-29 07:47:00 ET
ChargePoint Holdings (NYSE: CHPT) was once a hot company pushing the electric vehicle revolution forward. Its charging stations sprouted up like weeds, fueled by a shift toward the production of EVs as it looked to stake its claim in the $100 billion market opportunity.
However, the EV company faces significant headwinds as losses keep piling up, and the stock is down 86% since the start of 2022. If you're considering buying ChargePoint today, there are three things you should consider first.
ChargePoint faces significant headwinds from declining sales and delayed deliveries of commercial vehicles, which weigh on demand for its charging stations. The current economic backdrop of high interest rates and economic uncertainty has many commercial customers taking a step back from spending. Meanwhile, fleet customers have seen delayed delivery of EVs, which has led to postponed investments in charging infrastructure.
For further details see:
3 Things You Need to Know if You Buy ChargePoint Holdings Today