Why Shares of ChargePoint Holdings Climbed 7% in June
Reversing course from their 1.2% drop in May, shares of ChargePoint Holdings (NYSE: CHPT) powered 7% higher last month, according to data from S&P Global Market Intelligence.
The June performance of ChargePoint, a leading EV infrastructure business, especially warrants recognition when compared with the S&P 500's 8.4% decline. While several analysts had panned the stock early in June, a bull's positive take on ChargePoint charged up investors' enthusiasm in the middle of the month.
Disappointed with ChargePoint's Q1 2023 earnings on May 31, several analysts shared pessimistic outlooks on the EV charging stock, motivating investors to exit their positions. On June 1, for example, analysts from Citigroup, Piper Sandler, and Evercore ISI all reduced their price targets.
Source Fool.com
