Why Blink Charging Shares Tumbled This Week
Blink Charging (NASDAQ: BLNK) had two big press releases this week, and they both are going to help the business grow. But investors aren't buying. In fact, Blink shares have plunged this week, down about 13.4% as of early Friday afternoon, according to data provided by S&P Global Market Intelligence.
The electric vehicle (EV) charging-equipment company announced a new two-year contract with the Tennessee Valley Authority (TVA) yesterday. Blink will supply EV charging equipment, including Level 2 and DC fast chargers for both public and commercial fleet applications.
Earlier in the week, blink also announced an agreement with Arcos Dorados, a company that operates and franchises McDonald's restaurants in Latin America and the Caribbean. The largest McDonald's franchisee in the world will use Blink's EV charging solutions for five McDonald's restaurants it owns in Puerto Rico.
Source Fool.com
