This Supercharged Growth Stock Could Be a 10-Bagger
The market sell-off has crushed the valuations of many stocks, particularly growth companies that depend on future revenues and cash flows.
ChargePoint Holdings (NYSE: CHPT), one of the leading electric vehicle (EV) charging infrastructure companies, went public about a year and a half ago. The stock is now down 67% from its all-time high, despite reporting better than expected fiscal 2022 results and guidance for a monster fiscal 2023. ChargePoint's fiscal 2023 is the 12-month period from Feb. 1, 2022, to Jan. 31, 2023.
With a market cap of around $5 billion, I think there's an argument that ChargePoint could reach a market cap of $50 billion over the next 10 to 15 years. But it could also fail and result in a catastrophic loss for investors who put too much faith in the stock. Here's why ChargePoint is a potential 10-bagger worth considering now.
Source Fool.com
