ChargePoint: Buy, Sell or Keep?

Wall Street loves a good story. However, sometimes the story is better than the company, so you need to be careful when investing in story stocks. ChargePoint Holdings (NYSE: CHPT) had a great story when it went public in March 2021 through a reverse merger with a special purpose acquisition company (SPAC), and the stock posted strong gains in the months that followed. Since then, however, it has fallen more than 95% from its highs. Is this company a buy, sell or hold today?

ChargePoint sells products and services that enable electric vehicle (EV) charging. There’s no doubt that the kind of infrastructure it provides will be needed to support the widespread adoption of electric vehicles as the world moves away from dirtier, carbon-emitting energy sources like gasoline. This is the big story that underpins the company’s long-term story.

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