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Why Blink Charging Stock Crashed 12% Today

TheMotleyFool

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Why Blink Charging Stock Crashed 12% TodayPhoto, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

Blink Charging (NASDAQ: BLNK) stock tumbled 11.8% in 12:50 p.m. ET trading Monday after analysts at investment bank Cowen & Co. downgraded shares of the electric car-charging network builder.

Blink shares had spent most of the past week trading near or above Cowen's price target of $41 for the stock, putting the analyst in the logical position of having to either raise its price target (if it intended to continue recommending buying Blink) or cutting its rating on the stock (if it was really sure the stock was fully valued at that price level).

Image source: Getty Images.

Source Fool.com

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