Shares of ChargePoint (NYSE: CHPT) fell 75% in 2023 and continue to fall as challenges hit the EV market overall and chargers in particular. Losses are piling up, funding isn't as easy to get as it once was, and now the company is going to have to shift to a new charging standard.
Is this a low point ChargePoint can recover from or a downturn that will last forever? Let's dig into ChargePoint's business to find out.
Before getting to ChargePoint's financials, I think it's important to lay out what ChargePoint sells. Yes, it has a network where it generates revenue from charging cars, but the vast majority of its revenue comes from selling chargers.
Source Fool.com