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ChargePoint Holdings, Inc. is the largest provider of charge stations for electric vehicles.
The company was founded in 2007, actually anticipating what would then become a revolution that involves renewable resources and eclectic vehicles.
Over time, the ChargePoint managed to become a leader in the market, and in 2019 it reached 100,000 charging stations. The company went public only in 2021, following the path of the so-called “blank check companies”: the process allows a company to get listed on a stock exchange by acquiring a public company, to avoid the complexities involved in a classic IPO (Initial Public Offering).
The stock issued by the company is listed on the New York Stock Exchange (NYSE) under the ticker CHPT.
In this article, we will see how the stock performed over time, the instruments that allow investors to get exposure to the company’s stock, and how to buy ChargePoint (CHPT).
Contents
ChargePoint Stock Key Features
- There are over 353 million outstanding CHPT shares
- THe number of outstanding shares outstanding (that is, the number of shares hold by shareholders) has increased by almost 5% since 2022
- The stock has never gone through a stock split
- There are no records related to dividends paid by the company
- The largest CHPT shareholder is Quantum Energy Partners, LLC
ChargePoint Stock Over the Years – Review
Companies that become public are usually previously privately traded to gather more capital that can guarantee the functioning and management of the company.
Since the acquisition of Switchback Energy Acquisition Corporation, occurred in 2021 with the intent to make ChargePoint public, CHPT became the first publicly tradable stock issued by an EV charging network.
We can go back to the end of 2019 to get data related to the stock, so let’s see how ChargePoint has performed over time.
ChargePoint Stock in 2023
2023 began with the last phase of a downtrend that started developing in 2021. After a short rebounce that led the price of the stock to almost $14, and then towards the current price of around $8.
ChargePoint Stock in 2022
2022 didn’t pass with significant price movements. The company shared negative reports until August, and the range within which the price moved was between around $19 and $9, so experiencing a slight downtrend.
In August, the company reported positive earnings (with a surprise of +14.45%), and revenue that exceeded expectations by almost 5%.
ChargePoint Stock in 2021
As it usually happens after a company goes public, the price of CHPT went down in 2021.
The merger with the shell company was complete in February, but since the very first days of the year, the stock began a downtrend.
We should consider that this was a complex year for many stocks that had experienced an impressive growth right after the break out of the pandemic. This, combined with the listing, led the price of the stock to $19 by the end of the year (from the $38 of January).
ChargePoint Stock in 2020
The stock started 2020 at around $9.80. We can observe wide gaps in prices for the low liquidity of the asset, but 2020 was the year of the peak. After a bounce that led the price to $9.38, investors and traders further joined the market — maybe anticipating the following 2021 public listing. Over the year, the price went through a complete positive trend that led the price to over $43.
ChargePoint Stock in 2019
2019 passed without any particular event involving the stock. We can observe wide gaps in the stock price, and by observing volume trading, we can assess that traders and investors joined the market particularly since November 2019. There were no significant changes in price, and the stock traveled in a range between $9.65 to $9.80.
Investors and traders have today several ways to get access to financial markets, as well as to different financial instruments.
Online brokers managed to make financial markets more inclusive, often offering fractional investing and instruments that can be accessed by traders and investors with different budgets.
CHPT stock makes no exceptions. Despite not being among the most expensive stocks, investors can choose to get exposure to this stock in different ways.
If they decide to own shares of the company, they’ll need to buy entire shares. But if they prefer to have different rights, or use different investing strategies, they can choose financial instruments based on the price of the stock — commonly called derivatives.
For example, investors who aim for higher levels of diversification for their portfolios, might choose instruments like ETFs (Exchange Traded Funds).
Investing in these assets, from a practical perspective, is not very different from investing in stocks. But these funds collect different financial instruments, and what investors get when they buy are shares of the funds.
Some of the ETFs that include CHPT stock are ALPS Clean Energy ETF (ACES) and iShares Self-Driving EV and Tech ETF (IDRV). Of course, being ChargePoint involved in renewables and the EV markets, most of the asset categories that include CHPT are focused on this industry.
Another financial instrument that can be used to invest in CHPT stock are CFDs (contracts for difference). Thes instruments base their prices on the price of the underlying stock – in this case, CHPT stock.
CFDs, when compared to stocks, give investors the opportunity to use leverage for their investments – thus allowing them to invest capitals higher than the capitals they actually own.
One of the online brokers that allow this type of investment is eToro — and we will use this broker as an example to talk about how to buy ChargePoint (CHPT) stock.
Among the brokers that allow you to invest in CHPT, we will use – as mentioned – eToro to give you a practical example on how to buy ChargePoint stock.
The choice of the broker is an important step for traders and investors, and many are the elements to take into account – like compliance, taxes, and intuitiveness.
eToro is a regulated broker that aims at offering a wide variety of financial instruments while keeping costs low. Let’s see how to use it to invest in CHPT.
Step 1: Users’ accounts
The first step it’s the creation of a new account. The process can be started by clicking on the Sign Up button you can find on the official application of the broker or on its website. To sign up, new users can compile the form provided or use a Google or Facebook account.
Step 2: Identification
To comply with financial regulations, companies that provide financial products need to be able to identify their users. That’s why eToro will ask you to provide a proof of identity and proof of address document (the latter doesn’t have to be older than three months). This step allows users to fully activate their accounts.
Step 3: Deposits
A deposit will allow users to use their real wallets to invest and trade. Users can choose among the different deposit methods provided by the online broker – among which there’s eToro Money (to make instant deposits).
Step 4: Search for ChargePoint
eToro provides users with a search bar that allows them to easily find the financial instrument they’re interested in. To find ChargePoint, you’ll just need to type the name of the company or the ticker of the stock.
Step 5: Invest in ChargePoint
Once you find ChargePoint (CHPT) stock, you’ll be redirected to the page dedicated to the stock. From there, you can set your order — decide the type of order, the amount you want to invest, conditions to close your position, and leverage.
Summary
ChargePoint is a company that managed to anticipate the EV revolution by creating a leading company in the EV charging network sector.
In this article, we covered the characteristics of the stock issued by this public company listed on the NYSE – CHPT, how to buy ChargePoint, the past performance of the stock to provide you analysis under a historical perspective, and used eToro as an example of online broker to help you understand how to buy ChargePoint (CHPT).
FAQ
Is CHPT stock a buy?
There’s no definite answer to this question. What investors can do is evaluate the past performance of the stock and do a fundamental analysis of the company to understand if the company is valuable and if the stock can meet their needs. In the case of ChargePoint, the stock is issued by a company that managed to be a leader in the sector of EV charging networks.
Who’s the CEO of ChargePoint?
Pasquale Romano, who joined the company in 2011 and he is the CEO and President of ChargePoint, and a member of the NIAC (National Infrastructure Advisory Council).
Where is ChargePoint (CHPT) stock listed?
ChargePoint is a public company listed on the New York Stock Exchange (NYSE), and the stock it issues is traded under the ticker CHPT.
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