Why Investors Pulled the Plug On ChargePoint Holdings Today
ChargePoint Holdings (NYSE: CHPT) wasn't the most electric stock on the exchange Friday. Its price dipped by nearly 4% on the day, in contrast to the nearly 1% improvement of the S&P 500 index. The latest development in the charging station company's C-suite was the main reason for the decline.
In a regulatory filing, ChargePoint revealed that its chief technology officer, Eric Sidle, had served notice that he is to vacate his position. The departure will be effective Jan. 31 of next year. The company said that it would disclose the terms of his departure in a subsequent filing.
It did not provide the reasons for Sidle's move, nor did it say anything about a possible successor for the position.
Source Fool.com
