Why ChargePoint Shares Are Falling

Shares of clean EV and EV charging companies, including ChargePoint Holdings Inc CHPT are trading lower amid a pullback in the space after the sector rallied following House passage of a US infrastructure bill, which contains $7.5 billion of funding to create a nationwide network of EV charging stations.

ChargePoint shares are otherwise trading higher by 7% over the past week and 35% over the past month amid continued optimism in the EV charging space.

ChargePoint provides EV charging networks and charging solutions in the United States. It offers a portfolio of hardware, software and services for commercial, fleet, and residential customers.

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ChargePoint has a 52-week high of $49.48 and a 52-week low of $15.34.