Is It Too Late to Buy ChargePoint Holdings Stock?

ChargePoint Holdings (NYSE: CHPT) is working to replace the gas station as it builds out a network of electric vehicle (EV) charging stations. As the world shifts from combustion engines to EVs, it is going to need companies like ChargePoint. But you aren't too late to jump aboard this upstart, though you might want to tread with extra caution if you are considering buying it.

On its investor relations website, ChargePoint's corporate overview section states, "Today, ChargePoint is facilitating mass electric vehicle (EV) adoption as one of the largest charging networks in the world with a strong leadership position in North America and a growing presence in Europe. The company has an established, capital light business model with growth that is directly proportional to rapidly increasing EV penetration." That description sounds amazing, especially given that electric vehicles are increasingly displacing combustion engine vehicles.

But the hype around EVs isn't the same as it used to be. Some high-profile EV makers have even gone under or been forced to file for bankruptcy protection. Even EV leader 's (NASDAQ: TSLA) shares have lost a third of their value since peaking in 2021. However, that's nothing compared to the 95%-plus price drop that ChargePoint shareholders have suffered through over roughly the same period.

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Source Fool.com