Why Blink Charging Stock Just Charged Ahead 15%
Shares of Blink Charging (NASDAQ: BLNK) are on a tear today, up 15% through 11 a.m. EDT on an announcement from the electric-vehicle (EV) charging network that it has sold or deployed 539 charging stations in the United States and internationally during the coronavirus lockdowns of June through August.
It's not immediately clear what prompted this press release from Blink, other than the fact that its stock dropped 36% last month, and has mostly flatlined in September, so perhaps management would like to get a little bit of that back.
Earnings were last released a month ago, and new earnings won't arrive for another couple of months, so you can't really call today's news an earnings "pre-announcement." It's more in the nature of the company just issuing a press release to boost enthusiasm for its stock, which seems to be waning in the wake of short-seller reports questioning the size of its charging network.
Source Fool.com
