CHPT - Better EV Stock: NIO vs. ChargePoint
2023-06-18 05:08:00 ET
NIO (NYSE: NIO) and ChargePoint (NYSE: CHPT) represent two very different ways to invest in the growing electric vehicle (EV) market. NIO is a leading producer of electric sedans and SUVs in China, and it operates a nationwide network of battery swapping stations that enable its subscribers to quickly swap out their depleted batteries for fully charged ones. ChargePoint is an EV infrastructure company that builds EV charging stations for private businesses.
Over the past 12 months, NIO's stock tumbled 44% as ChargePoint's stock sank 20%. Investors retreated from both stocks as rising interest rates drove investors away from the market's pricier, unprofitable, and more speculative companies. But should investors take the contrarian view and buy either of these out-of-favor EV stocks right now?
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Better EV Stock: NIO vs. ChargePoint