The past few weeks have been harsh for Evo (Nasdaq: EVGO)Thus, for its shareholders. The stock now decreased by more than 60 % of its peak in late October, and touched the lowest level in a few days.
But this step is not completely surprising. President Donald Trump is not a supporter of electric cars, as much of Kamala Harris expected. A few hours after his inauguration, Trump canceled the order of former President Joe Biden, who imposed that half of all new cars sold in the United States are zero emissions by 2030. This policy shift works clearly against EV companies, including EVGO, which It owns it and aims at EVGO companies, which it owns and operates a charging network.
However, if Mac Hogan, the deputy of the news site in the industry inside EV, is correct, the sale of the arrow may eventually be an opportunity to buy. With the opening of Hogan shortly after Trump’s election, “If there is one thing that you need to know about public policy, it is that the stalemate is difficult to overcome. forward.
Here is the reason for your desire to obtain a class in the upward EVGO in the wake of the share price of the stock.
With the maximum market for only about $ 1 billion, EVGO is definitely no Timing. It is not even a kind of Tesla. Instead of making electric cars, EVGO manufactures and manages public charging solutions. As of the end of September, about 1,100 fast charging stations were operating in 40 US states, serving more than 1.2 million EV account holders.
This is still not much. It also deceives Motley Research indicatesAs of January, the United States was home to the 69,632 electric car charging station, supporting more than 195,000 charging ports. Shipping point It is currently dominating this square with approximately 38,000 stations and about 68,000 shipments. Tesla has less than 7,000 stations, but its individual stations can serve more vehicles simultaneously more than ChargePoint box. Regardless of how to cut it, EVGO is a relatively small player in this work.
Do not let that deter you, though. Although Trump’s clear interest in encouraging electric car sales, there are some related reasons that this stock is now buying.
Firstly, Electric car Purchases are still increasing, and they are likely to continue doing this in the unspecified future.
You may have heard that EV sales slowd down, but what was slowing was the growth rate, which decreased from about 50 % in 2023 and 66 % in 2022 to only 7.3 % last year, according to Kelly Cox Automotive book.
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