CHPT - Why ChargePoint Shares Dropped Today
2023-04-05 14:16:33 ET
Shares of electric vehicle (EV) charging network provider ChargePoint Holdings (NYSE: CHPT) are dropping sharply Wednesday. As of 2 p.m. ET, the stock was down 6.2% after recovering a bit from an earlier 8.2% decline.
The move lower coincides with a broadly lower day in growth and technology stocks . The Nasdaq Composite index was leading markets lower with a decline of about 1.25% at that time. But the drop in ChargePoint stock comes even after the company announced it is expanding its presence in Europe with a new business venture. The decline in ChargePoint shares pushed the stock into negative territory for the year.
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Why ChargePoint Shares Dropped Today