TSLA - ChargePoint: It's Only Getting Worse
2024-03-07 00:44:43 ET
Summary
- ChargePoint shares have lost over 80% in a year as it continues to miss revenue growth expectations.
- The company reported Q4 revenues of $115.8 million, missing estimates and down 24% from the previous year, and revenue guidance for the current fiscal quarter was significantly below expectations.
- ChargePoint's large losses and cash burn, combined with increased competition from Tesla, make it a risky investment with a high valuation.
Over the last year, one of the worst performing stocks in the market has been ChargePoint Holdings ( CHPT ). Shares of the electric vehicle charging company have lost more than 80% as the company has continued to miss revenue growth expectations. On Tuesday, fourth quarter results were released , and the pain for investors doesn't seem to be stopping anytime soon....
ChargePoint: It's Only Getting Worse