Why ChargePoint Shares Plunged 35% Last Month
Anyone investing in the electric vehicle (EV) sector has to expect volatility. Most of these companies are building for the future, and aren't yet profitable. April was a bad month for the market in general, as the S&P 500 dropped 8.8%. But more volatile, and risky, growth names like EV charging network company ChargePoint Holdings (NYSE: CHPT) dropped much, much more.
ChargePoint stock is down nearly 30% year to date, and April was a big part of that decline. Shares plunged 34.9% for the month, according to data provided by S&P Global Market Intelligence.
Image source: ChargePoint Holdings.
Source Fool.com
