ChargePoint Holdings NYSE:CHPT fell more than 17% on June 24, extending weekly losses to approximately 16% as a major brokerage maintained a Neutral rating citing persistent cash burn and EV policy uncertainty.

Key Highlights

• ChargePoint fell more than 17% on June 24, extending its weekly decline to approximately 16%.

• A major brokerage maintained a Neutral rating, raising its price target modestly to $8 from $7.

• RSI fell to approximately 22, a level consistent with deeply oversold technical conditions.

• Profitability remains dependent on meaningful revenue recovery after fiscal 2027, per market commentary.

ChargePoint Holdings (NYSE:CHPT), the electric vehicle charging network operator, fell more than 17% on June 24, extending its weekly decline to approximately 16% and pushing shares toward their 52-week low, after a major brokerage maintained a Neutral rating that highlighted persistent concerns about cash consumption and the policy environment for EV adoption.

The brokerage's note resulted in a modest increase to its price target, raising it to $8 from $7, but the accompanying commentary on cash burn trajectory and policy-related headwinds to EV network demand reinforced investor scepticism about ChargePoint's near-term investment case. The company's path to profitability, per market estimates, requires a substantial recovery in revenue that is not expected to materialise until after fiscal 2027.

Technical indicators deteriorated sharply in the session, with the Relative Strength Index falling to approximately 22. That level sits well within territory conventionally defined as oversold, though in the absence of a positive fundamental catalyst, oversold readings in a structurally challenged company do not reliably signal imminent recovery.

ChargePoint operates one of the largest EV charging networks in North America, a position that provides operational scale advantages, but the pace of EV adoption and its sensitivity to policy support have complicated the company's revenue visibility.