What Happened?
Shares of EV charging infrastructure provider Blink Charging (NASDAQ: BLNK) jumped 3.4% in the morning session after the company extended its positive momentum as it announced a collaboration with Hubject to expand its electric vehicle (EV) charging network across North America.
The deal integrated Blink's charging stations into Hubject's intercharge eRoaming platform. Think of this as joining a large alliance of charging networks, making Blink's chargers available to a wider range of EV drivers who use services partnered with Hubject.
The deal covered the United States, Canada, and Mexico, which significantly boosted Blink's visibility and potential customer base. By connecting to Hubject's platform, Blink expected to see more drivers using its stations, a move that could directly translate to higher sales. This partnership represented a clever way for the company to grow its market reach without building an entirely new customer network from the ground up.
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What Is The Market Telling Us
Blink Charging’s shares are extremely volatile and have had 76 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 1 day ago when the stock gained 4.4% on the news that the company announced a strategic collaboration with Hubject to expand its electric vehicle (EV) charging network across North America.
Blink Charging is up 13.9% since the beginning of the year, but at $1.71 per share, it is still trading 24% below its 52-week high of $2.25 from October 2024. Investors who bought $1,000 worth of Blink Charging’s shares 5 years ago would now be looking at an investment worth $221.40.
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