What's Going On With ChargePoint Stock Today?

ChargePoint Holdings Inc (NYSE:CHPT) shares are moving lower Monday after the company announced a 1-for-20 reverse stock split.

What Happened: ChargePoint on Monday implemented a reverse stock split of its common stock on a 1-for-20 basis aimed at increasing the company’s stock price in order to comply with rules for continued listing on the New York Stock Exchange.

The stock split, which was approved by shareholders on July 8, resulted in every 20 shares of ChargePoint common stock ...