CHPT - Stock Market Sell-Off: Is ChargePoint a Buy?
Demand for electric vehicles is rising fast and an estimated 60% of new vehicles sold in 2030 will be EVs. The coming influx of electric-powered vehicles means that countries will soon need to significantly expand their charging infrastructure.
And that's where ChargePoint Holdings (NYSE: CHPT) comes in. The company has the largest charging network in the U.S. and is building charging stations across Europe as well.
The company's share price has been cut in half over the past year, which has many investors wondering if now might be a good time to pick up shares of the stock. While the company is certainly tapping into a fast-growing trend, I think investors would do better to hold off on buying ChargePoint right now. Here's why.
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Stock Market Sell-Off: Is ChargePoint a Buy?