CHPT - Why ChargePoint Holdings Stock Dropped 9.9% This Week
2024-01-11 18:24:41 ET
Shares of ChargePoint Holdings (NYSE: CHPT) were down 9.9% this week as of Thursday's close, according to data provided by S&P Global Market Intelligence , after the company announced a significant reorganization.
ChargePoint stock only just rallied 26% in December 2023 , rebounding from a disastrous November after the electric vehicle charging network provider abruptly lost both its CEO and chief financial officer.
In a press release on Wednesday morning, the newly appointed CEO, Rick Wilmer, explained that the company is implementing a strategic reorganization as a result of a "comprehensive business evaluation" in his new position.
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Why ChargePoint Holdings Stock Dropped 9.9% This Week