Why Blink Charging Stock Is Imploding
Shares of electric-vehicle charging network Blink Charging (NASDAQ: BLNK) were down sharply for a second day on Thursday, after an analyst wrote that the company appears to have "vastly exaggerated" the size of its network.
As of 10:45 a.m. EDT, Blink's shares were down 18.9% on the day. They're down about 25% since the analyst's note was released before the market opened on Wednesday.
In a blistering note, Culper Research revealed that it opened a short position in Blink's shares after its analysis suggested that Blink has just 2,200 operational public charging stations -- not the 15,000 that the company has claimed.
Source Fool.com
