ChargePoint, the EV charging bigwig, saw its shares jump, riding the wave of Blink Charging's unexpectedly strong preliminary Q4 earnings. I was able to catch a 30% gain on Blinks run after previous quarter reports, though a rival.. BLNKS performace may be similar to ChargePoint, eyeing their own March 5 Q4 earnings release, crossing fingers for a similar beat.
Yet, with the stock price way off its peak—down a whopping 95%—and trading at about 1.6 times this year's expected revenue, some folks see it as sitting at a solid support level. I'm keeping an eye out, hoping to scoop some shares under the $2 point of control (PoC), targeting the $2.50 zone for a potential bounce back.
But let's not sugarcoat it: Despite the tempting valuation, ChargePoint's path to positive gross margins and profitability remains a steep climb, especially with the EV market's growth expected to slow. For those of us willing to play the long game and stomach some risk, ChargePoint's battered stock might just offer that explosive upside we're hunting for. Yet, it's a speculative play, Good Luck Guys!