CHARGEPOINT weekly special report based On 1.00 Lot Calculation:
CHARGEPOINT: ANALYSIS AND EVENTS
- EVENT: Q3 EARNING REPORT (ESTIMATED DECEMBER 1, AFTERMARKET): Chargepoint will release its earnings on December 1, 2023. According to Bloomberg, revenue is expected to rise compared with data from Q2 2023.
- CHARGEPOINT IS THE LARGEST ELECTRIC VEHICLE CHARGING NETWORK WITH 70% MARKET SHARE IN THE U.S.A. AND 25% IN EUROPE: ChargePoint dominates the global markets in electric vehicle charging technologies, holding the largest market share on the planet. According to the company, ChargePoint has initiated over 3m charging sessions, saving drivers 3.5 million gallons of gasoline. ChargePoint is positioned to extend its dominance as a $114 billion market in EV charging stations develops. US administration intentions to install EV charging points on US highways could lead to profitability in 2024.
- ChargePoint announces availability of Tesla's NACS charging options solutions for new and existing EV charging deployments.
- 50% OF TOTAL U.S. VEHICLE SALES TO BE ELECTRIC VEHICLES BY 2023: President Joe Biden wants half of all new passenger vehicle sales in the U.S. to be electric vehicles by 2030. The International Energy Agency said that 60% of new vehicle sales globally will be Electric Vehicles.
- TABLE I: ELECTRIC VEHICLES AND PLUG- IN HYBRIDS SALES MAY JUMP 32% IN 2023 TO A NEW RECORD OF AROUND 13.6 MILLION (Source: Bloomberg). In North America only, the EV sales are expected to rise by 50% from 1.2 to 1.8 million EV sold.
Table I: Global EV and Plug-In Hybrid Sales
Source: Bloomberg
CHARGEPOINT: PRICE ACTION
- CHARGEPOINT HIT AN ALL- TIME LOW OF $2.28 (October 22, 2023) (Source: MT4).
- IPO (INITIAL PUBLIC OFFERING) PRICE (FIRST TIME PUBLIC: SEPTEMBER 2020): $10.40
- THE STOCK HAS HAD A DOWNWARD CORRECTION OF AROUND 95% FROM IT'S ALL- TIME HIGH OF $49.48 (DECEMBER, 2020). The stock fell to its all-time low of 2.28$ in October 2023. Chargepoint was last trading around $2.70, and if a full recovery follows recent all- time highs, the stock could see an upside of around 1,733%. However, the price could also decline further.
- ANALYST OPINION: Cowen forecasts $5 a share. Citi forecasts $8.25. JP Morgan forecasts $8. Bloomberg one year price target consensus stands at 9.44$.
#Chargepoint, November 7, 2023
Current Price:2.70
|
ChargePoint |
Weekly |
|
Trend direction |
|
|
6.00 |
|
|
5.00 |
|
|
3.50 |
|
|
2.00 |
|
|
1.50 |
|
|
1.20 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
16,500.00 |
11,500.00 |
4,000.00 |
-3,500.00 |
-6,000.00 |
-7,500.00 |
|
Profit or loss in €² |
15,263.50 |
10,638.20 |
3,700.24 |
-3,237.71 |
-5,550.36 |
-6,937.96 |
|
Profit or loss in £² |
13,107.72 |
9,135.68 |
3,177.63 |
-2,780.43 |
-4,766.44 |
-5,958.06 |
|
Profit or loss in C$² |
22,477.29 |
15,665.99 |
5,449.04 |
-4,767.91 |
-8,173.56 |
-10,216.95 |
1. 1.00 lot is equivalent of 5000 units
2. Calculations for exchange rate used as of 09:38 (GMT+1) 7/11/2023
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