What Happened?
Shares of EV charging infrastructure provider Blink Charging (NASDAQ: BLNK) jumped 3% in the morning session after the company announced a strategic partnership with Luxembourg-based energy management firm Nexxtlab to provide simplified energy management solutions for businesses with electric vehicle (EV) fleets throughout Europe.
The collaboration will integrate Blink's EV charging network with Nexxtlab's Smartmaster platform across key markets including Belgium, the Netherlands, Germany, and Luxembourg. This integration creates an ecosystem that connects EV chargers with inverters and energy storage systems. The platform is designed to optimize charging based on renewable energy availability and user preferences, which helps reduce operating costs for businesses by managing peak energy demand. This partnership aims to simplify the energy transition for companies utilizing EV fleets by creating a more efficient and cost-effective charging infrastructure.
After the initial pop the shares cooled down to $1.01, up 0.5% 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 5 days ago when the stock dropped 3.3% on the news that President Donald Trump announced his administration would not approve new solar or wind power projects, causing a sell-off in the renewable energy sector.
The move came after President Donald Trump posted on his social media platform, Truth Social, that "We will not approve wind or farmer destroying Solar," adding, "The days of stupidity are over in the USA!!!" This statement escalated his campaign against renewable energy development. The remarks prompted a sector-wide sell-off, pressuring solar and wind stocks broadly. Other renewable energy companies also saw their shares plummet following the announcement, reflecting investor concern over the future of green energy projects under his administration.
Blink Charging is down 33% since the beginning of the year, and at $1.01 per share, it is trading 55.3% 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 $136.36.
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