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Down 55% From Its High, Is This Hypergrowth Stock Too Cheap to Ignore?

·5 min read
Down 55% From Its High, Is This Hypergrowth Stock Too Cheap to Ignore?
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Shares of electric vehicle (EV) charging infrastructure and software company ChargePoint (NYSE: CHPT) are down 55% from their all-time high last December. Similar to other companies that have gone public via special-purpose acquisition company (SPAC) or de-SPAC in the past year, ChargePoint is part of a class of stocks that have dramatically underperformed the S&P 500's 20% year-to-date gain. Although it's a hypergrowth company in an attractive industry, there's an argument to be made that ChargePoint's stock price got a little ahead of itself.