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Why ChargePoint Stock Was Soaring Today

TheMotleyFool

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Why ChargePoint Stock Was Soaring TodayPhoto, wide shot, wide-angle lens, Bank, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/094456a7-d529-4ef2-b536-c031f2afd618.png

Shares of ChargePoint Holdings (NYSE: CHPT), the world's largest independent charging network for electric vehicles (EVs), were rallying today in response to the Federal Reserve's interest rate announcement yesterday, trending with other beaten-down stocks that stand to benefit from lower interest rates and the jolt they are expected to give to the economy.

As of 11:48 a.m. ET Thursday, ChargePoint stock was up 18.5%.

Image source: Getty Images.

Source Fool.com

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