News Formal

ChargePoint shares sink after Shell-Volta acquisition news - San Francisco Business Times

  • 📰 SFBusinessTimes
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 68%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The low price Shell plans to pay for Volta apparently has investors concerned about its rivals' valuations.

The relatively low price Shell plc plans to pay for Volta Inc. appears to have drained investor's enthusiasm for its rivals, including ChargePoint Holding Inc.for just $169 million — or less than 9% of what it was valued at when it went public 17 months ago — shares of ChargePoint and EVgo Inc. fell by more than 10%. Another player in the electric vehicle charging space — Blink Charging Co. — saw its shares drop by more than 7%.

Neither Volta, ChargePoint, EVgo nor Blink are profitable, so they worth can't be evaluated as a function of their earnings.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 78. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shell is buying EV charging company Volta for $169 million | EngadgetOil and gas company Shell is buying EV charging operator Volta for $169 million.
Source: engadget - 🏆 276. / 63 Read more »

Shell is buying EV charging company Volta for $169 millionVolta has more than 3,000 charging stations across the U.S. and a handful in Europe
Source: therealautoblog - 🏆 528. / 51 Read more »