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Why ChargePoint Shares Jumped Today

TheMotleyFool

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Shares of electric vehicle (EV) charging network company ChargePoint Holdings (NYSE: CHPT) soared by as much as about 14% Tuesday morning. While the stock backed off those early gains, shares were still higher by 10.9% at 10:50 a.m. ET.

The jump came after competitor Beam Global reported its quarterly earnings, which highlighted how companies in the EV charging sector could carve a path to profitability.

Many EV charging stocks have been getting hammered this year. That has been from a combination of underlying business developments as well as rising interest rates.

Source Fool.com

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