The Action Alerts Plus team on Tuesday cited some positive news about electric-vehicle charging network ChargePoint (CHPT).
Antara Capital, based in New York, will invest $300 million in the company through convertible senior notes to support its growth initiatives.
“We see this as the latest positive in a string of ones for the company, as it adds firepower for its expansion plans,” the AAP team wrote.
Amazon
On Monday, the team discussed the technicals for retail/technology goliath Amazon (AMZN).
“When we look at the wide moves on AMZN stock over the past six months on the daily chart, we see it has been just as violent as the S&P 500, perhaps more so,” the AAP team said.
“The Relative Strength Index (RSI) was extremely poor during the big drop at the start of the year. Yet, we saw this stock starting to correct that condition, and actually it is now in positive RSI territory.”
The chart is now bullish, the AAP team said.
Airbnb
Meanwhile, the AAP’s Chris Versace discussed the impact of higher gasoline prices on home-sharing platform Airbnb (ABNB) in an interview with TheStreet.com’s Katherine Ross.
“Rising gas prices are likely to weigh on air travel,” Versace said. “But remember, people travel by other modalities as well, whether it's autos or even trains, buses, what have you.”
It will take further research to figure out the full effect of rising gas prices on Airbnb, he said.
“But I think overall, the comparative travel numbers … are still going to be favorable on a year-over-year basis, at least through the September quarter,” he said.
