There’s an electrifying transformation happening right now, all thanks to a visionary push by the powers that be. The Biden-Harris administration has set its sights on deploying a colossal 500,000 public EV chargers nationwide, aiming to make EVs the dominant force in new car sales by 2030. This isn’t just a goal; it’s a revolution. It’s causing an explosion in demand projected to grow at a blistering 40% annual rate through 2030. We’re talking about more than doubling the current number of deployments.
Today, we’re focusing on the company that’s at the epicenter of this EV frenzy. And the best part? This opportunity comes with a price tag of less than $10.
ChargePoint Holdings Inc (CHPT)
EV charging deployments are on the verge of a significant expansion, thanks to the Biden-Harris administration’s ambitious plans. They aim to set up 500,000 public EV chargers nationwide and push EVs to make up at least 50% of new car sales by 2030. That’s a hefty goal, and it’s expected to drive port demand to grow at a 40% compound annual growth rate through 2030. To put it in perspective, we’re talking about more than doubling deployments to around 45,000 annually, up from the 20,000 average annual deployments seen between 2019 and 2022.
ChargePoint is sitting pretty in this scenario. They hold the largest market share of level 2 charging ports. These are the ones that give you a decent charge in less time compared to level 1 chargers. Level 2 chargers are perfect for places where EVs will be parked for a few hours, making them super convenient. Currently, ChargePoint boasts a network of 33,000 charging stations.
Looking ahead, these level 2 chargers will likely play a critical role in the United States, making EV adoption easier. So, ChargePoint seems to be on the right track. And here’s an interesting tidbit: while their shares have taken a bit of a hit this year, some analysts see this as an opportunity. The sentiment has taken a dip, but that could mean an attractive risk/reward situation for savvy investors.
UBS’s Robert Jamieson, for instance, recently initiated a buy rating on the stock and set a price target of $9, which suggests an 85.6% potential gain from Tuesday’s closing price.
Warning: Biden’s Big Blackout is Coming
So-called “green” energy is… DANGEROUS to human health… BAD for the environment…
And it DOES NOT WORK.
Right now, “green” energy is contributing to…Fuel shortages (the media has ignored this)…Sky-high energy bills hurting good Americans…And blackouts affecting every corner of our nation.
Democrats don’t mention any of this, do they Well, “stuff” is about to hit the fan.The collapse of their “Green New SCAM” will usher in…
The Triumphant Return of American Energy.…
[Click here to learn how to profit from the coming energy boom.]