What's Going On With ChargePoint (CHPT) Stock?

President Donald Trump's decision to revoke President Joe Biden’s executive order targeting 50% electric vehicle (EV) adoption by 2030 has shaken the EV industry, sending shares of ChargePoint Holdings Inc CHPT lower by around 3% to $1.06 since Tuesday’s session open.

What To Know: The rollback signals potential reductions in federal EV subsidies, relaxed emissions standards and limitations on state-level emissions waivers, all of which could dampen EV adoption in the United States.

Read Also: Trump’s Plan To End $7,500 EV Tax Credits Could Be ‘Devastating’ For Telsa Rivals, Poll Says Could Be Bullish For Elon Musk’s Company

ChargePoint, a leading EV charging network, faces direct exposure to reduced EV adoption. Fewer EV purchases could translate into slower charging infrastructure expansion, impacting the company's growth trajectory.

Furthermore, the potential rollback of federal tax credits for EV buyers may discourage consumer adoption, leading to lower utilization rates for charging networks.

ChargePoint's near-term prospects could now clouded by policy uncertainty. Investors are closely watching state-level responses to federal policy shifts for signs of resilience in the EV ecosystem.

Read Also: ChargePoint Outpaces Tesla In EV Network Market Share, But JPMorgan Stays Cautious

How To Buy CHPT Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in ChargePoint Holdings case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, CHPT has a 52-week high of $2.44 and a 52-week low of $1.02.

Image courtesy of ChargePoint