ChargePoint's falling stock price last month appears to have been driven by disappointment regarding the extent to which the company will benefit from the new U.S. infrastructure bill.
What happened to ChargePoint Holdings stock in December?
Jul 13, 2021 · Shares of ChargePoint ( CHPT -8.46% ) crashed today, down by 10% as of 3:30 p.m. EDT, after the company announced it is conducting a secondary offering. The news comes just a few months after...
Does Evan Niu own ChargePoint holdings?
Apr 22, 2022 · Michael Linse Sells 1,576,794 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock americanbankingnews.com - April 15 at 10:22 PM: Why ChargePoint Is My Favorite EV Charging Stock Right Now - The Motley Fool fool.com - April 15 at 3:53 PM: CHPT Stock Is Waiting for the Market to Happen - InvestorPlace investorplace.com - April 14 at 8:52 AM
What does ChargePoint’s secondary offering mean for investors?
Jan 14, 2022 · EV charging network company ChargePoint Holdings ( CHPT -1.30% ) has pretty much fallen out of favor with investors. Even after a big down month in December, when the stock dropped about 25% ...
Is ChargePoint’s deal a dilutive capital raise?
Apr 26, 2022 · ChargePoint Holdings Inc. (NYSE:CHPT) traded at $14.94 at close of the session on Monday, 04/25/22, made an upward move of 3.53% on its previous day’s price. ... Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -21.57% down in year-to-date price movement.
Is ChargePoint a good stock to buy?
ChargePoint is bursting with potential and remains my favorite EV charging stock to buy now. But some investors may be better off limiting their exposure to ChargePoint until the company proves its fiscal 2022 numbers came in on target and its guidance for fiscal 2023 forecasts sustained higher growth.Mar 1, 2022
Is ChargePoint bullish?
While Wall Street analysts are generally bullish on CHPT, the Seeking Alpha Quant Rating is still flashing Strong Sell. ChargePoint Holdings (CHPT) still trades well below its 50-day, 100-day and 200-day moving averages despite today's rally.Jan 28, 2022
Why is ChargePoint stock going up?
A further break-up of its revenue revealed robust demand for ChargePoint's networked EV charging hardware as well as strong growth in recurring revenue from its subscription software and services. So as of Jan. 31, the company had more than 174,000 ports versus 163,000 ports as of Oct. 31, 2021.Mar 11, 2022
Can I buy ChargePoint stock?
Buy ChargePoint shares from these brokerages Trade stocks in the app or online with $0 commissions. Not available in NY, NV, MN, or TN. Client disclaimer: US Brokerage services through eToro USA Securities Inc, member of FINRA, SIPC.
Who is Evan from ChargePoint?
ChargePoint launches a secondary offering a few months after closing its de-SPAC merger. Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
Is ChargePoint a dilutive capital raise?
Charge Point is not issuing any new shares and will not receive any of the proceeds from the deal; this is not a dilutive capital raise. Instead, existing shareholders are collectively selling 12 million shares of stock, while the underwriters have a greenshoe option for another 1.8 million shares. Image source: ChargePoint.
Investors are no longer patient with early-growth tech companies, especially in the electric vehicle sector
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.
Key Points
Hopes for growing future recurring revenue are being overshadowed by the macroeconomic environment.
What happened
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.
So what
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.
Now what
This week's stock drop doesn't come with any current news from the company. ChargePoint provides electric fueling networks for commercial, fleet, and residential customers. It reported 79% year-over-year revenue growth in its recently reported fiscal 2022 third quarter, ended Oct. 31, 2021.
Holding ChargePoint stock was like riding a roller coaster in the fourth quarter of 2021
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.
What happened
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.
So what
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.
Now what
While the prospect of rising interest rates and growing competition in the EV space had investors rotating out of these names in December, ChargePoint did give investors some positive news during the month.
What happened
Electric vehicle (EV) charging network leader ChargePoint Holdings (NYSE: CHPT) reported its quarterly results last night, and the market is reacting negatively today. Shares dropped 10% in early trading Wednesday, and as of 10:16 a.m. ET, they remained down more than 8%.
So what
The boost in revenue guidance is the second one from the company this year, after going public through a merger with a special purpose acquisition company (SPAC) earlier in 2021. But investors appear to be reacting more to the net loss of $69.4 million the company reported.
Now what
Investors might be concerned about the company's path to profitability due to competition and uncertainty about how the EV sector will evolve. But ChargePoint reported its gross margin increased 500 basis points year over year to 25%, while revenue grew 79%.
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