CHPT - Why ChargePoint Nikola and Nio Stocks All Crashed in October
2023-11-04 11:25:52 ET
It was a tough month for investors in the electric vehicle (EV) sector, with negative headlines on multiple fronts. For long-term investors, though, that makes it a good time to analyze whether the drops are opportunities to add shares or see if the new reality is thesis-changing.
EV charging station network company ChargePoint (NYSE: CHPT) lost a whopping 48.9% last month. The stocks of electric heavy truck maker Nikola (NASDAQ: NKLA) and Chinese EV maker Nio (NYSE: NIO) dropped by 31.2% and 19.2%, respectively, according to data provided by S&P Global Market Intelligence .
For one of these names, a bit of news in the sector last month could indeed mean it's time to sell and move on.
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Why ChargePoint, Nikola, and Nio Stocks All Crashed in October