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Why ChargePoint Stock Plunged Today

Electric vehicle (EV) charging network leader ChargePoint Holdings (NYSE: CHPT) reported its quarterly results last night, and the market is reacting negatively today. With the company raising its fiscal-year revenue guidance, some may be wondering why investors would hit the stock. The boost in revenue guidance is the second one from the company this year, after going public through a merger with a special purpose acquisition company (SPAC) earlier in 2021.