ChargePoint Climbs 7% as CEO Says Rally Is ‘the Beginning of the Momentum’; EVgo Ticks Up, Blink Charging Holds Flat

ChargePoint Holdings (NYSE:CHPT) shares saw a 7% rally on Friday after the CEO, Rick Wilmer, said the rally marks the beginning of a momentum. Meanwhile, EVgo (NASDAQ:EVGO) and Blink Charging (NASDAQ:BLNK) stocks dipped, trailing ChargePoint. The rally in ChargePoint's stock is attributed to a company-specific reappraisal rather than a broad EV sector rotation.

ChargePoint's Q2 revenue of $116 million beat expectations, with a record 38% gross margin, including a one-time tariff refund of $4.2 million. The margin on a normalized basis was closer to 35%. However, Q3 revenue guidance only matched consensus, and the margin was partly driven by the tariff refund. ChargePoint's Q3 guidance of $105 million to $115 million revenue bracketed the market expectations.

Despite the rally, ChargePoint stock has declined 9% over the trailing year, while EVgo is down 49% YTD and Blink Charging is down 12% YTD. The article highlights the company-specific nature of the rally and the potential risks if broader charging infrastructure stocks face a selloff.