ChargePoint (CHPT) stock price has imploded this year, falling by over 41% while the S&P 500 and Nasdaq 100 have surged to a record high. It has also underperformed other electric vehicle charging companies like EVGo and Blink Charging.
The clean tech revolution is advancing rapidly, with both electric vertical takeoff and landing (eVTOL) aircraft and electric vehicle (EV) infrastructure playing pivotal roles.
Plug Power is struggling to expand its niche hydrogen fuel cell business. ChargePoint faces tough macro and competitive headwinds.
ChargePoint provides products and services to the electric vehicle charging market. Infrastructure of the types it provides is vital for making the wider adoption of EVs viable.
CHPT receives more than $19 million from NEVI program funds to deploy 248 DC fast charging ports at 45 locations along California highways.
ChargePoint is providing a valuable service to the electric vehicle market as it creates its charging network. Although vital to the development of the EV space, charging networks are costly to build.
ChargePoint's Q2 adjusted gross margins increased significantly. However, growth remains a big challenge for the charging station network.
ChargePoint is adjusting to the reality of a smaller-than-forecasted EV market.
ChargePoint's latest earnings report disappointed investors. The company expects its slowdown to persist throughout the rest of the year.
ChargePoint's revenue has continued to sink over the past year. The company also pushed back its goal of when it expects to become adjusted EBITDA positive.
ChargePoint continues to see revenue rapidly decline. TD Cowen cut its rating on the stock, but still sees upside in the stock.
ChargePoint is pushing its profitability goal back by as much as another year. The company is seeking to cut costs and will reduce its workforce by about 15%.