ChargePoint Holdings Inc (NYSE: CHPT) shares are trading lower by 11% to $3.24 Wednesday afternoon, marking a new all-time low, despite a lack of company-specific news for the session. The stock may be falling amid broader weakness in the EV sector. A rise in Treasury yields Wednesday has also weighed on growth stocks.
ChargePoint's stock has experienced a substantial 40% decline in the past month. This decline was largely triggered by the company's announcement regarding commitments from institutional investors, notably the lead investor of their $300 million convertible notes issued ...