CHPT - ChargePoint: Buy Sell or Hold?
2024-06-02 03:19:00 ET
Not long ago, ChargePoint (NYSE: CHPT) was a hot company carving out its place in the promising electric vehicle (EV) charging market, looking to stake a claim to a healthy slice of a $100 billion market opportunity. The company's charging stations sprouted up nationwide, and its growth was hard to ignore.
The company's growth has slowed since then, and it faces some significant headwinds as its losses stack up. Since peaking in late 2020, ChargePoint stock has fallen by 95%. If you own ChargePoint stock or are considering adding it to your portfolio, consider the following first.
ChargePoint's growth has been impressive. From its fiscal 2021 (which ended Jan. 31, 2021) through fiscal 2023, the company's networked charging systems revenue grew by 295%.
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ChargePoint: Buy, Sell, or Hold?