CHPT - Here's 1 Big Reason Why ChargePoint Shareholders Should Be Worried
2024-05-31 04:00:00 ET
ChargePoint (NYSE: CHPT) is a key player in the electric vehicle (EV) market, but it doesn't make vehicles. It makes charging stations, which is more of a picks-and-shovels play in the EV space. The only problem is that so far, ChargePoint hasn't found a way to sell the vital products and services it provides profitably. Here's why the company's asset-light business isn't working out just yet.
Electric vehicles need to be charged, which, while obvious, is still a huge opportunity for companies to service. ChargePoint is one of the larger companies trying to play a role in this part of the EV model . It makes and sells charging systems and offers subscription services for charging networks.
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Here's 1 Big Reason Why ChargePoint Shareholders Should Be Worried