ChargePoint Holdings Inc. Implements Reverse Stock Split Amid Financial Turmoil

ChargePoint Holdings Inc. (NYSE: CHPT) shares plummeted 17% to $10.00 following a 1-for-20 reverse stock split, a desperate bid to maintain NYSE listing compliance. The move, approved by shareholders in July, does little to mask the company's deteriorating financial health.

First-quarter fiscal 2026 revenues fell 9% to $98 million, missing analyst expectations. Wall Street firms including UBS, Goldman Sachs, and Oppenheimer maintain cautious ratings as the EV charging infrastructure provider struggles with persistent operational challenges.

The reverse split mechanism—ranging between 1-for-2 and 1-for-30—was ultimately set at 1-for-20 by corporate governance committees. While existing shareholders retain proportional ownership, the drastic measure underscores ChargePoint's precarious market position.