Should You Buy Electric Vehicle Charging Stocks Right Now?

With the number of electric vehicles on the roads increasing, the need for EV charging infrastructure looks obvious. What isn't as clear, though, is which players are best suited to develop and maintain this infrastructure. Still, prices for EV charging stocks have risen significantly in the last year. ChargePoint Holdings (NYSE: CHPT) stock is up 130% in a year, while Blink Charging (NASDAQ: BLNK) stock is up 212% over the same time frame. Notably, both stocks are more than 40% off their high prices in 2021.

While the EV charging ecosystem continues to evolve, let's see if buying EV charging stocks makes sense right now.

Roughly 80% of all EV charging is done at home. Yet the need for a well-developed charging network cannot be overemphasized. Electric cars have been around for years, but an absence of charging infrastructure has severely restricted their growth. People wouldn't buy electric cars if they fear getting stuck somewhere with no chargers around.

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Source Fool.com