Why ChargePoint Stock Added to Its Recent Surge With a Gain Again This Week
The record gross margin in Q2 was an important signal for investors.
Overview
ChargePoint Holdings (NYSE:CHPT) stock has been on a massive run recently. Shares have soared almost 80% in the last month, including a gain of 6% this week as of Friday afternoon, according to data provided by S&P Global Market Intelligence.
That doesn't mean all shareholders are necessarily happy, though. ChargePoint stock has still lost almost 20% over the past year. But its most recent quarterly report may have signaled an inflection point, helping to explain its recent gains.
Details
A solid revenue beat and a narrower net loss weren't the only reasons for optimism. Those are incremental steps, certainly. But ChargePoint has taken incremental steps to grow revenue, only to regress in the past. Some of that has to do with the slowdown in EV sales growth. Still, it is likely also related to the strength of Tesla's Supercharger network and reported maintenance issues at non-Supercharger charging stations.
Source
Originally published at www.fool.com.