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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. On July 14, the company announced the pricing of its previously announced underwritten secondary offering of 12 million shares of its common stock, whereby the selling shareholders would receive all of the proceeds from the offering. However, this news led to investors’ pessimism. The company witnessed increased supply chain costs and reported a loss in 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:
