What's Going On With ChargePoint (CHPT) Stock
Portfolio Pulse from Henry Khederian
ChargePoint Holdings Inc (NASDAQ:CHPT) shares are trading higher by 1.1% to $8.35. The rise comes despite a lack of company-specific news and a recent fall in EV-related stocks, including Tesla. Tesla's Q2 earnings exceeded expectations, but its gross margins were down from 25% YoY. This could lead to investors adjusting their expectations for other EV companies like ChargePoint, potentially leading to a decrease in its stock price.
July 21, 2023 | 7:56 pm
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ChargePoint's stock price may decrease as investors adjust their expectations following Tesla's lower gross margins. Despite this, the stock is currently trading higher.
Tesla's lower gross margins in Q2 could lead to investors becoming more cautious about the growth prospects of other EV companies, including ChargePoint. This could lead to a decrease in ChargePoint's stock price, despite it currently trading higher.
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