Josh Brown Adds To Dutch Bros And This EV Charging Stock

Dutch Bros Inc BROS and ChargePoint Holdings Inc CHPT both reported strong quarterly financial results this week, but Dutch Bros traded lower while ChargePoint moved higher.

Ritholtz Wealth Management's Josh Brown liked what he heard from both companies and decided to increase his exposure.

Brown's Take: Dutch Bros reported a "great earnings report that nobody gives a damn about right now," Brown said Thursday on CNBC's "Fast Money Halftime Report."

The company has a tiny market cap and a massive opportunity, he said, adding that he sees it as an easy investment.

Dutch Bros just increased its new store forecast by 20%, Brown said: "They are going to explode across the United States over the next few years."

Related Link: Why ChargePoint Shares Are Rising Today

ChargePoint is trading higher, but it has a lot of things working against it, according to Brown.

"It has nothing to do with the company, it's about the environment that we're in. It was a former SPAC, that's one strike. It's a growth company with no earnings yet, that's another strike. It's a TAM story, strike three," Brown said. "Whatever, I don't care."

He said ChargePoint is another great example of a company with a small market cap that has a massive opportunity.

Brown highlighted the company's better-than-expected financial results and noted that ChargePoint would have done even better if it weren't for supply chain issues.

"I don't care if it's Tesla or BMW or Porsche or whoever gets the most market share," he said. "No matter what, you gotta charge your stuff and that is the new world that we are going into."

BROS, CHPT Price Action: At publication time, Dutch Bros was up 3.88% at $45.89 and ChargePoint was up 7.68% at $15.14.