America’s EV-charging industry filled up on a fair share of government spending commitments in the past year. Yet after starting their public market debuts with a bang in 2021—many through mergers with special-purpose acquisition companies—they have lost their spark, possibly offering a more accessible price point for investors looking for exposure to electric-vehicle industry growth.
ChargePoint Holdings trades at $12.59 a share, a far cry from the $30.11 price tag it commanded shortly after its SPAC merger closing. EVgo goes for around $7.04 per share; less than half of what it fetched following the close of its SPAC merger. And Volta which traded for roughly $9 a share following its public-market debut, is now $0.99 per share.