Why Shares of ChargePoint Holdings Are Rising Today
Building on Tuesday's momentum, shares of ChargePoint Holdings (NYSE: CHPT) continued to power higher Wednesday. As of 12:34 p.m. ET, the electric vehicle charging stock was up 2.7%, retreating slightly from an earlier gain of 4.5%.
Although the company didn't report any news Wednesday that could have been a catalyst for that rise, it seems that investors are still showing their enthusiasm for an EV charging collaboration between two other companies -- BP and Hertz -- that was announced Tuesday, as well as good news for the sector that came out of Washington, D.C.
Recognizing the growing interest in EVs, BP and Hertz announced a plan to expand EV-charging infrastructure for Hertz customers. According to Stephen Scherr, CEO of Hertz, the companies will partner to "create a national charging infrastructure for the Hertz EV fleet, thereby growing the number of charging options available to our customers and providing them with a premium electric experience and lower emission travel options."
Source Fool.com
