Is EVgo Stock A Buy Or Sell After Recent Earnings?
Summary
- EVgo has been one of the most resilient against this year's market storm.
- The stock gained more than 30% in value during the first quarter, outperforming the broader market as well as its industry peers.
- The company's fourth quarter sales and earnings beat have also been crucial to supporting the stock's latest rally, especially as it continues to press toward an aggressive growth guidance.
- With U.S. EV adoption approaching an inflection point, the availability of accessible and reliable public fast-charging stalls is becoming more critical than ever before.
- EVgo remains one of the strongest charging infrastructure stock picks considering its vertically integrated business model - from hardware and DCFC technology design and development to stall installation, maintenance, ownership and operations - which appeals greatly to retail EV owners and fleet operators looking for reliable turnkey charging solutions in the new electrification era.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of EVGO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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