Why ChargePoint Stock Dropped 25% Last Month
Owners of ChargePoint Holdings (NYSE: CHPT) stock needed a strong stomach to end 2021. After a 24% gain to start the fourth quarter in October, shares of the electric-vehicle (EV) charging network company ended the year with a 25.4% drop in December, according to data from S&P Global Market Intelligence.
All the ups and downs came as a bipartisan infrastructure bill was being debated in Congress. The now-passed bill contains $7.5 billion allocated toward building out the country's EV charging infrastructure, as well as another $5 billion to replace municipal and school buses with zero-emission vehicles. But the boost for ChargePoint shares from that future benefit was replaced with concern investors showed in December for growth stocks like ChargePoint. Many, like ChargePoint, are spending money now to seek profits down the road.
Image source: ChargePoint.
Source Fool.com
