Why ChargePoint Stock Is Plunging 25% This Week [Yahoo! Finance]
ChargePoint Holdings, Inc. (CHPT)
Company Research
Source: Yahoo! Finance
That, along with the bigger picture of electric vehicle (EV) sales, has investors dumping ChargePoint stock. As of Thursday afternoon trading, ChargePoint stock had tumbled by 25% this week, according to data provided by S&P Global Market Intelligence . That drove the stock near its 2024 lows and down nearly 40% year to date. ChargePoint revenue is dwindling The investment thesis for EV charging companies like ChargePoint is largely based on growing global EV demand. But new entrants in the EV market like General Motors Ford Motor Company , and Volkswagen are throttling back on production plans. And just this week Swedish automaker Volvo said it was abandoning its plan to sell only EVs by 2030. Those decisions came as market leader Tesla produced 14% fewer EVs in the second quarter compared to the year-ago period. Slowing EV sales have ended up hitting ChargePoint and its growth plans hard. Investors were disappointed with the $109 million in sales the company reported in its
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CHPT
News
- ChargePoint appoints David Vice as chief revenue officer [Seeking Alpha]Seeking Alpha
- ChargePoint Appoints David Vice as Chief Revenue OfficerBusiness Wire
- Is It Time to Give Up on ChargePoint Stock? [Yahoo! Finance]Yahoo! Finance
- Is ChargePoint Stock Headed to $1 After Revenue Warning Sinks Shares? [Yahoo! Finance]Yahoo! Finance
- 1 Wall Street Analyst Thinks ChargePoint Is Going to $2. Is It a Buy Around $1.30? [Yahoo! Finance]Yahoo! Finance
CHPT
Earnings
- 9/4/24 - Miss
CHPT
Sec Filings
- 9/9/24 - Form 10-Q
- 9/4/24 - Form 8-K
- 7/11/24 - Form 4
- CHPT's page on the SEC website