Why Blink Charging Stock Soared 37% This Week
Shares of Blink Charging (NASDAQ: BLNK) have rallied 37.8% this week as of Thursday's close, according to data provided by S&P Global Market Intelligence, after the electric vehicle (EV) charging equipment specialist announced the launch of its next-generation EQ 200 chargers in the United Kingdom and Ireland. The stock also benefited from softer-than-expected Consumer Price Index (CPI) and Producer Price Index (PPI) data released this week.
In a press release early Monday, Blink announced it has launched its EQ 200 charger technology in both the U.K. and Ireland. Blink describes the EQ 200 as one of a new generation of compact "vehicle-to-grid, bidirectional chargers designed to boost the development of an effective EV charging infrastructure and enable the switch from static EV charging to more dynamic and sustainable energy management as grid technology develops."
In particular, the EQ 200 is capable of drawing on energy stored in an electric vehicle's battery to power other devices in the office or home, charge other EVs, and even feed electricity back into the grid. It's compatible with roughly 90% of modern electric vehicles, and operates using Open Charge Point Protocol software, which is designed to eliminate the need to upgrade hardware as charging technology advances.
Source Fool.com
