BLNK - Blink Charging: Preliminary Q4 Earnings Results Reignite Animal Spirits
2024-02-15 14:07:39 ET
Summary
- Blink Charging stock surged 32% after posting better-than-expected preliminary fiscal 2023 fourth-quarter earnings. Revenue is set for 86% year-over-year growth to $42 million.
- BLNK's low valuation compared to its historical average could potentially set bulls up for medium-term outperformance if the Fed cuts rates.
- Interest rate cuts and a dip in inflation could help reverse the slowdown in EV sales and negative investor sentiment toward the industry.
Blink Charging Overview
Blink Charging's ( BLNK ) 32% intraday surge after it posted preliminary fiscal 2023 fourth-quarter earnings that surprised consensus to the upside possibly reflects two factors. The first is that EV sentiment has been driven too low, despite the continued strength of new EV uptake in the US and beyond. The other is that a 19,748,932 share short interest , nearly 33% of its diluted weighted average number of common shares outstanding as of its last reported quarter, got caught in a squeeze....
Blink Charging: Preliminary Q4 Earnings Results Reignite Animal Spirits