ChargePoint Secures Over $19M To Expand DC Fast Charging Ports Across California Highways
Portfolio Pulse from Nabaparna Bhattacharya
ChargePoint Holdings, Inc. (NYSE:CHPT) has secured over $19 million to expand its DC fast charging ports across California highways. The funding is part of the National Electric Vehicle Infrastructure (NEVI) program, aiming to enhance EV charging accessibility. Despite this positive development, CHPT shares are trading lower, having lost over 73% in the past year.
September 20, 2024 | 2:44 pm
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ChargePoint secures $19M to expand DC fast charging ports in California, part of the NEVI program. Despite this, CHPT shares are down 2.62% today and over 73% this year.
The $19M funding for expanding DC fast charging ports is a positive development for ChargePoint, potentially increasing its market presence and revenue. However, the stock is currently trading lower, reflecting broader market conditions or investor sentiment. The NEVI program's support indicates strong governmental backing, which could positively impact future growth.
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IMPORTANCE 80
RELEVANCE 100