Down Over 67% From All-Time Highs, Are EV Stocks ChargePoint Or EVgo Buys?
Electric vehicle (EV) charging infrastructure stocks ChargePoint Holdings (NYSE: CHPT) and EVgo (NASDAQ: EVGO) have gotten caught up in the growth stock sell-off that has swept through the U.S. stock market. The Nasdaq is now in correction territory and is down 12% year to date. Similarly, many EV stocks, such as Rivian Automotive (NASDAQ: RIVN), fell over 30% in just the first three weeks of 2022.
Investors looking for pick-and-shovel plays in the EV industry may consider buying the dip in ChargePoint or EVgo. Here's the case for each.
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Source Fool.com
