Shares of ChargePoint Holdings Inc. experienced a steep decline on Friday, diving 36.4% to reach a record low. The electric vehicle charging station company's stock took a significant hit after issuing a revenue warning and announcing the departure of two top executives. This precipitous drop marked the largest one-day decline since the company began trading four years ago, with the percentage slide exceeding the previous record of a 16.1% selloff on June 13, 2022.

Furthermore, ChargePoint also saw a weekly decline of 26.6%, surpassing the previous record of a 23.1% drop in the week ending September 8, 2023. These numbers indicate the severe challenges the company is currently facing in the market.

The revenue outlook for the third quarter, disclosed late Thursday, fell well below Wall Street expectations, adding to the market's concerns. Consequently, ChargePoint named Rick Wilmer as its new CEO, replacing Pasquale Romano, who held the position for the past 12 years. Additionally, the company revealed that CFO Rex Jackson had left his role and appointed Mansi Khetani as the interim CFO.

Investors did not take kindly to these developments, resulting in a brutal sell-off of ChargePoint's stock. The company has witnessed an alarming 79.1% plunge year-to-date, detailing the immense struggles it has confronted in an increasingly competitive electric vehicle charging station market.

While ChargePoint battles its own challenges, its rival, Blink Charging Co., has also faced similar hurdles. However, as per the provided information, no specific details are given regarding Blink Charging Co.'s stock performance or current situation.