What Happened?
Shares of EV charging infrastructure provider Blink Charging (NASDAQ: BLNK) jumped 8.8% in the afternoon session after the company announced a partnership with Universal Media to launch a new charging station concept that combines electric vehicle charging with digital advertising. The new "EV Totem" concept featured dual 55-inch high-definition digital displays positioned above the charging units for high visibility. The first installations became operational at a high-traffic retail and lifestyle center in Salt Lake City, Utah. This collaboration aimed to create new revenue streams for businesses and property partners by offering real-time, location-based ad targeting. For Blink, a leading owner and operator of EV charging equipment, the partnership represented a strategic move to integrate dynamic media experiences with its charging infrastructure, with plans to expand the concept to other high-traffic locations.
After the initial pop the shares cooled down to $1.19, up 3% from previous close.
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What Is The Market Telling Us
Blink Charging’s shares are extremely volatile and have had 74 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 2 days ago when the stock gained 10% on the news that the company announced an expanded collaboration with Belgian office property company Group Bernaerts to increase its electric vehicle charging footprint in the country.
Under the agreement, which builds on a partnership started in 2022, Group Bernaerts plans to double its current 88 Blink charging stations to at least 176 by the end of 2025. The chargers are located across various properties in the Belgian cities of Antwerp and Mechelen. This expansion in the European market signals Blink's continued growth and addresses the rising demand for EV charging solutions in multi-tenant properties. The news provided a significant boost to the stock, which has faced profitability challenges despite maintaining a healthy balance sheet with more cash than debt.
Blink Charging is down 20.7% since the beginning of the year, and at $1.19 per share, it is trading 65.1% below its 52-week high of $3.41 from July 2024. Investors who bought $1,000 worth of Blink Charging’s shares 5 years ago would now be looking at an investment worth $167.84.
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