Should You Buy ChargePoint While It's Below $0.70?
ChargePoint (NYSE: CHPT) has had a difficult journey since its public debut in 2021. The company initially rode the wave of excitement as the electric vehicle (EV) revolution gained momentum, with automakers pivoting toward EVs, spurring demand for charging infrastructure.However, the landscape has changed. Automakers are scaling back their ambitious EV plans, and the political environment isn't as supportive of EVs and related infrastructure as it once was. This and other factors have pushed ChargePoint's stock price down to a staggering low.ChargePoint looks like a bargain at this price, trading at just 0.6 times its sales. But before jumping in, investors should carefully consider what's driving these changes, and whether this dirt cheap entry point is a golden opportunity or an ominous warning sign.Continue reading
ChargePoint (NYSE: CHPT) has had a difficult journey since its public debut in 2021. The company initially rode the wave of excitement as the electric vehicle (EV) revolution gained momentum, with automakers pivoting toward EVs, spurring demand for charging infrastructure.
However, the landscape has changed. Automakers are scaling back their ambitious EV plans, and the political environment isn't as supportive of EVs and related infrastructure as it once was. This and other factors have pushed ChargePoint's stock price down to a staggering low.
ChargePoint looks like a bargain at this price, trading at just 0.6 times its sales. But before jumping in, investors should carefully consider what's driving these changes, and whether this dirt cheap entry point is a golden opportunity or an ominous warning sign.
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