CHPT - Should You Buy ChargePoint While More Money Is Going Out Than Coming In?
2024-05-05 14:35:00 ET
ChargePoint (NYSE: CHPT) does something very important: It installs and provides services for electric vehicle (EV) charging sites. These are necessities if the world is going to shift from combustion engines to EVs. But there's one problem for investors: The company isn't profitable.
Is now the time to buy ChargePoint while it remains in the red?
ChargePoint has roughly 286,000 "activated" ChargePoint-branded EV charging ports, and subscribers to its service can access another 630,000-plus ports via roaming. That's a big electric vehicle charging network. Its operations span multiple countries across North America and Europe. This is a good foundation, and ChargePoint has clearly achieved a great deal of growth since it started building out its business in 2007.
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Should You Buy ChargePoint While More Money Is Going Out Than Coming In?