Why EV Stocks Plunged in June [Yahoo! Finance]
ChargePoint Holdings, Inc. (CHPT)
Company Research
Source: Yahoo! Finance
This was a warning for the companies in public markets that are unable to fund themselves long term. According to data provided by S&P Global Market Intelligence Nio 's (NYSE: NIO) shares fell 22.8% in June, Nikola (NASDAQ: NKLA) fell 46.7%, and Chargepoint (NYSE: CHPT) fell 10.1%. If conditions don't improve soon, the fall may not be over. The problem facing EV companies There was a lot of excitement about EV companies during the pandemic. But there wasn't much profit to back up the valuations companies got in the market. That's unsustainable long term, and over the last year, the market has demanded a path to profitability in the foreseeable future. You can see from the chart below that none of these three companies are profitable or trending in that direction. This becomes a problem as stock prices fall because financing options dry up. Debt markets become more expensive, and a dilutive stock offering becomes harder and more dilutive the lower a stock goes. Once the negat
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CHPT
News
- EV Charging vs. Gas Prices: How Much Can You Really Save With an Electric Vehicle? [CNET News]CNET News
- ChargePoint Holdings, Inc. (NYSE: CHPT) had its price target lowered by analysts at Benchmark Co. from $4.25 to $3.00. They now have a "buy" rating on the stock.MarketBeat
- ChargePoint Holdings, Inc. (CHPT): Is this Small-Cap Stock a Good Buy Right Now? [Yahoo! Finance]Yahoo! Finance
- Is EV Charging Cheaper Than Gasoline? We Did the Math to Find Out [CNET News]CNET News
- ChargePoint Holdings, Inc. (NYSE: CHPT) was upgraded by analysts at B. Riley to a "hold" rating.MarketBeat
CHPT
Earnings
- 6/5/24 - Beat
CHPT
Sec Filings
- 6/21/24 - Form 4
- 6/21/24 - Form 4
- 6/21/24 - Form 4
- CHPT's page on the SEC website