CHPT - Why ChargePoint Holdings Stock Tumbled Today
ChargePoint Holdings (NYSE: CHPT) stock tumbled Friday morning and slumped 12.1% within minutes of the market's opening before regaining some ground. The electric vehicle (EV) charging network company released numbers for its fourth quarter (which ended January 31, 2023) yesterday, and although its revenue grew exponentially, that growth momentum is about to die down.
Here are some numbers from ChargePoint Holdings' fourth-quarter earnings report that you must know (all changes year over year):
It was a record quarter for ChargePoint Holdings, but the company fell short of its own revenue guidance of $160 million to $170 million. For the full year, too, revenue of $468.1 million came in at the lower end of its guidance range.
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Why ChargePoint Holdings Stock Tumbled Today