The shares of ChargePoint Holdings, a popular EV charging network provider ChargePoint Holdings has fallen significantly in the last few months despite the fact that the company made several acquisitions and expanded its European reach. Let’s find out if it is wise to buy the stock trading below $20?.One of the largest charging networks providers, ChargePoint Holdings, Inc. (CHPT), made its stock market debut on March 1, 2021, merging with a special purpose acquisition company (SPAC), Switchback Energy Acquisition Corporation. Over the last few months, it has acquired several companies. It acquired ViriCiti, for example in August 2021. Also, in July 2021, it agreed to acquire a leading European e-mobility technology provider, ‘has·to·be’. However, these acquisitions have taken a toll on CHPT’s already weak financials.

The stock has lost 17.4% over the past month and 34.5% over the past three months to close yesterday’s trading session at $18.66. The company’s previously announced secondary underwritten offering of 12,000,000 shares of common stock was priced on July 14. All proceeds would be split between the sellers and the buyers. However, this news led to investors’ pessimism. Company reported an increase in its supply chain costs, and a loss for the second quarter. So, the stock’s near-term prospects look bleak.

Here are the factors that could influence CHPT’s performance in the upcoming months:

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