CHPT - Is This EV Charging Stock's Business Model in Jeopardy?
2023-09-08 06:55:00 ET
It hasn't been a good time for ChargePoint Holdings (NYSE: CHPT) investors as of late. The electric vehicle (EV) charging stock is down more than 50% in the past year and down over 80% from its all-time high.
Granted, it's been a challenging period for EV charging stocks in general. Many are not profitable and are banking on a strong and sustained transition away from gas-powered vehicles toward electric cars to grow revenue, benefit from scale, and become profitable over time.
ChargePoint's "land and expand" business model is an extremely aggressive strategy aimed at gaining and retaining customers early by becoming an industry leader. Let's take a closer look at the strategy to see if it still makes sense or if ChargePoint may need to consider a more conservative approach.
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Is This EV Charging Stock's Business Model in Jeopardy?