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Why ChargePoint Shares Jumped Today

TheMotleyFool

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Why ChargePoint Shares Jumped TodayPhoto, wide shot, wide-angle lens, soft focus, Car rental company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-C39HK7mRtkD4E8dIGhNKdJKJ.png?st=2023-05-14T13%3A30%3A04Z&se=2023-05-14T15%3A30%3A04Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-13T20%3A57%3A44Z&ske=2023-05-14T20%3A57%3A44Z&sks=b&skv=2021-08-06&sig=c7kEiWtHt1KibrlL7jP9uEmEuV%2BuAnv1nRBACXoedSk%3D

Shares of electric vehicle (EV) charging network company ChargePoint Holdings (NYSE: CHPT) soared by as much as about 14% Tuesday morning. While the stock backed off those early gains, shares were still higher by 10.9% at 10:50 a.m. ET.

The jump came after competitor Beam Global reported its quarterly earnings, which highlighted how companies in the EV charging sector could carve a path to profitability.

Many EV charging stocks have been getting hammered this year. That has been from a combination of underlying business developments as well as rising interest rates.

Source Fool.com

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