What Happened?
Shares of EV charging infrastructure provider Blink Charging (NASDAQ: BLNK) jumped 4.4% in the morning session after the company announced a strategic collaboration with Hubject to expand its electric vehicle (EV) charging network across North America.
The deal integrated Blink's charging stations into Hubject’s vast 'intercharge eRoaming' platform, making them accessible to a wider net of EV drivers in the United States, Canada, and Mexico. This move was designed to boost the use of Blink’s charging locations by connecting them to Hubject's network, which linked over one million charging points globally. For drivers, this meant more options and greater convenience, similar to how cell phone roaming works. The integration used standard industry protocols for billing and communication. This partnership came as the broader EV charging industry pushed for more collaboration to build out a more seamless and reliable infrastructure for a growing number of electric vehicles on the road.
After the initial pop the shares cooled down to $1.58, up 2.3% from previous close.
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What Is The Market Telling Us
Blink Charging’s shares are extremely volatile and have had 75 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 3 days ago when the stock gained 9.9% on the news that positive sentiment swept the electric vehicle (EV) charging sector following several encouraging industry-wide developments.
The optimism stemmed from a series of positive announcements from other players in the space. For instance, competitor Pioneer Power Solutions announced several new contract wins for its mobile EV charging solutions. In another sign of expansion, Be.EV revealed plans to build four new ultra-rapid charging hubs in London. Furthermore, Autel Energy announced its key role in powering South Africa's largest public EV bus charging project in Cape Town. This collection of positive developments suggested growing momentum and investment across the global EV infrastructure landscape, lifting investor confidence in the sector and benefiting companies like Blink Charging.
Blink Charging is up 5.3% since the beginning of the year, but at $1.58 per share, it is still trading 29.8% 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 $175.36.
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