Why ChargePoint Stock Tumbled 27% in November
Shares of electric vehicle (EV) charging network operator ChargePoint (NYSE: CHPT) took a dive last month after the company reported disappointing third-quarter preliminary results, named a new CEO, and said that its CFO was stepping down.
The news added to the perception that ChargePoint is in disarray as a number of carmakers have adopted 's North American Charging Standard (NACS) this year, forcing the company to adapt its chargers. As a result of the preliminary update and executive changes, the stock finished the month down 27%, according to data from S&P Global Market Intelligence.
As you can see from the chart below, the stock fell sharply in the middle of the month when that news came out, and it didn't recover.
Source Fool.com
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