Does ChargePoint's Future Depend On a Biden Infrastructure Bill?
The electric vehicle (EV) space is bursting with potential. Lower battery prices, the push toward environmental, social, and governance (ESG) investing, and carbon-neutral targets by companies and countries all bode well for increased EV adoption.
When scanning the market for EV stocks, the first group that comes to mind is probably automakers like Tesla, Ford, and GM. However, an even easier way to invest in EVs could be through charging infrastructure companies like ChargePoint (NYSE: CHPT).
ChargePoint benefits as more passenger and commercial EVs hit the road, no matter who makes them. Although it's the industry leader, one glance at the growth stock's valuation makes it clear that the company has some very big shoes to fill. This begs the question: Does ChargePoint's future depend on a Biden infrastructure bill, or can it succeed without federal support? Let's break down the company's fundamentals to determine if ChargePoint is a buy now.
Source Fool.com
