ChargePoint reverse stock split: EV charging company adjusts share price amid NYSE delisting risk
The stock price for the EV charging company ChargePoint Holdings (NYSE: CHPT) went up dramatically this morning—but for investors, that might not be good news.
ChargePoint just implemented a measure called a “reverse stock split,” a move intended to artificially increase the share price of a company without actually boosting its overall value. Typically, a reverse stock split is used as an effort to prevent a company from being delisted from a stock exchange, and it often signals that said company is struggling financially.
Investors are already demonstrating their wariness: As of this writing, ChargePoint stock is down more than 14% since the market opened this morning. Here’s what to know about the company’s reverse stock........
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