Why ChargePoint Stock Has Been Dropping Sharply This Week
EV charging network company ChargePoint Holdings (NYSE: CHPT) has pretty much fallen out of favor with investors. Even after a big down month in December, when the stock dropped about 25%, shares in ChargePoint continue to fall. As of Friday-morning trading, the stock has had another bad week, with shares down over 14% according to data provided by S&P Global Market Intelligence.
ChargePoint is a leading EV charging company in North America and is expanding in Europe. It has become one of the few EV companies going public through SPAC mergers to follow up with increasing revenue projections. The company has raised its calendar year 2021 annual revenue guidance in each of the past two quarterly reports.
Image source: ChargePoint Holdings.
Source Fool.com
