What's Going On With ChargePoint Shares Wednesday?
Portfolio Pulse from Nabaparna Bhattacharya
ChargePoint Holdings, Inc. (NYSE:CHPT) shares dropped in premarket trading on Wednesday after reporting Q4 financial results and guidance below estimates. The company's shares have lost over 70% in the last six months, underperforming the S&P 500. ChargePoint reported a quarterly loss of 23 cents per share, with sales missing analyst estimates. The company also announced a revenue forecast for the next quarter significantly lower than expected. Additionally, ChargePoint highlighted its collaboration with AcBel Polytech for developing EV charging solutions.
March 06, 2024 | 12:52 pm
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ChargePoint's shares dropped after reporting Q4 financial results below estimates and issuing weaker than expected guidance for the next quarter.
ChargePoint's shares are trading lower due to its Q4 financial results and future guidance not meeting analyst expectations. The reported loss per share was in line with estimates, but sales missed the consensus. Furthermore, the company's forecast for the next quarter's revenue is significantly lower than expected, indicating potential challenges ahead. This negative outlook, combined with the significant loss in share value over the last six months, suggests a bearish short-term impact on the stock.
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