ChargePoint Holdings, Inc. CHPT shares are plunging down Monday after the company disclosed it received a notice of non-compliance from the New York Stock Exchange.

What To Know: The notice, issued on Feb. 19, 2025, states that ChargePoint’s stock has traded below the required $1.00 minimum average closing price over a consecutive 30-day period, putting the company at risk of delisting if it does not regain compliance.

Despite the decline, ChargePoint clarified that the notice does not immediately affect its listing or trading status. The company has until March 5, 2025, to inform the NYSE of its plan to rectify the deficiency. ChargePoint has a six-month window to bring its share price back above the $1.00 threshold, either organically or through a reverse stock split, which would require shareholder approval.

ChargePoint’s struggles come amid ongoing challenges in the EV charging sector, where profitability remains elusive despite increasing government support and infrastructure expansion. Investors appear skeptical about the company's ability to recover, as evidenced by today’s steep drop. If ChargePoint fails to regain compliance, it could face delisting from the NYSE, a scenario that would likely add further downward pressure on its stock.

The company maintains that the notice has no impact on its business operations or SEC reporting obligations. However, with shares already at risk of losing institutional investor interest due to the sub-$1.00 price, ChargePoint faces mounting pressure to execute a turnaround plan swiftly.

CHPT Price Action: ChargePoint shares were down 17.7% at 62 cents at the time of writing, according to Benzinga Pro.

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