ChargePoint Shares Plummet to New All-Time Low Despite Q3 Earnings Beat

ChargePoint Holdings Inc (NYSE:CHPT) shares hit a new all-time low despite a lack of company-specific news. The decline signals a reversal of sentiment following the electric vehicle charging network company’s third-quarter earnings report. Analysts have expressed caution about the company’s turnaround, citing headwinds such as wider-than-expected adjusted losses and risks from tapering US demand and tax credits. The stock faces critical support around $6.90 and resistance around $7.20.